Attachment 3

Detailed Rules for Specific Futures Products

1. Detailed Rules of No.1 Soybean Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of No.1 Soybean Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the No.1 Soybean Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of No.1 soybean futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the Overseas Special Participants, the Overseas Intermediaries, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the quality discounts and/or premiums of standard deliverable products and substitutes under the No. 1 soybean futures contract are detailed in the No. 1 Soybean Delivery Quality Standards of Dalian Commodity Exchange (F/DCE A001-2024) as Annex 1 attached hereto.

The No.1 soybean futures contract shall take the form of physical delivery.

The delivery warehouses designated for No. 1 soybean shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for No. 1 Soybean of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the No.1 soybean futures contract are January, March, May, July, September and November.

The trading unit of the No.1 soybean futures contract is 10 MT/ Lot.

The price quote unit of the No.1 soybean futures contract is CNY/MT.

The minimum tick size of the No.1 soybean futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the No.1 soybean futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the No.1 soybean futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the No.1 soybean futures contract is the tenth trading day of the contract month.

The last delivery day of the No.1 soybean futures contract is the third trading day after the last trading day.

The ticker symbol of the No.1 soybean futures contract is A.

Chapter III Delivery and Clearing

Section I General Provisions

The No.1 soybean futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Where the EFP is applied through the standard warehouse receipts, the parties to the trading shall, in addition to submitting relevant EFP information and materials in accordance with the Measures for Trading Management of Dalian Commodity Exchange, submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices.

When participating in the rolling delivery and one-off delivery, the clients shall submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices to the Exchange before 14:30 of the handover day through the Members. If they fail to submit such certificates within the specified period, they shall be deemed disqualified for receiving or issuing VAT invoices, and shall be handled pursuant to the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange.

The standard warehouse receipt of No.1 soybean shall be the standard warehouse receipt of storage warehouse.

The differences of quality discounts and/or premiums of the No. 1 soybean futures contract shall be settled between the owner of the goods and the designated delivery warehouse.

No. 1 soybean shall be delivered in the form of bulk grain.

The trading price of the No. 1 soybean futures contract shall be that of the bulk grain price.

The dedicated VAT invoice shall be issued for delivery of No.1 soybean.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees (including the warehousing fees, custody dissipation, fumigation fees) and other fees of No.1 Soybean shall be separately published by the Exchange. During the period from May 1 to October 31, the high-temperature storage fees shall be additionally charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY ten (10) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for the receipt of, and the delivery into the warehouse of, the commodities.

The receiving and consigning weights of No. 1 soybean shall be subject to the weighting by the designated delivery warehouse.

The designated delivery warehouse shall conduct inspection of No. 1 soybean loaded into the warehouse subject to the applicable provisions of the Exchange. In case the inspection results are qualified, the designated delivery warehouse shall submit the relevant inspection report to the Exchange. The Exchange or the quality inspection agency entrusted by the Exchange shall check the commodities delivered into the warehouse, and only after it has confirmed that there is no error, can the commodities loaded into the warehouse be deemed to pass the inspection.

The deregistration of standard warehouse receipts shall be carried out against the standard warehouse receipts of No. 1 soybean prior to the last trading day of each March.

When No. 1 soybean are loaded out of the warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of standard warehouse receipts.

If the owner has any objection on quality of the loaded-out commodities, it shall first negotiate with the warehouse to solve the problem. If the negotiation fails, the owner shall file a written application for re-inspection within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have not been loaded out of the warehouse. The application for re-inspection shall specify the name of the warehouse, stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the re-inspection result is in conformity with the inspection result confirmed by the warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: No.1 Soybean Delivery Quality Standard of Dalian Commodity Exchange (F/DCE A001-2024) (Omitted)

Annex 2: List of Delivery Warehouses Designated for No. 1 Soybean of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

2. Detailed Rules of No.2 Soybean Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of No.2 Soybean Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the No.2 Soybean Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of No.2 soybean futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the Overseas Special Participants, the Overseas Intermediaries, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the quality discounts and/or premiums of standard deliverable products and substitutes under the No. 2 soybean futures contract are detailed in the No. 2 Soybean Delivery Quality Standards of Dalian Commodity Exchange (F/DCE B003-2017) as Annex 1 attached hereto.

The No.2 Soybean futures contract shall take the form of physical delivery.

The delivery warehouses designated for No. 2 Soybean shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for No. 2 Soybean of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the No.2 Soybean futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the No.2 soybean futures contract is 10 MT/ Lot.

The price quote unit of the No.2 soybean futures contract is CNY/MT.

The minimum tick size of the No.2 soybean futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the No.2 soybean futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the No.2 soybean futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the No.2 soybean futures contract is the tenth trading day of the contract month.

The last delivery day of the No.2 soybean futures contract is the third trading day after the last trading day.

The ticker symbol of the No.2 soybean futures contract is B.

Chapter III Delivery and Clearing

Section I General Provisions

The No.2 Soybean futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Where the EFP is applied through the standard warehouse receipts, the parties to the trading shall, in addition to submitting relevant EFP information and materials according to the provisions of the Measures for Trading Management of Dalian Commodity Exchange, submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices. Where the EFP is applied through the standard warehouse receipts of storage warehouse and the corresponding cargo is imported soybean, the inspection and quarantine certificate or the inspection and quarantine disposition notice (hereinafter collectively referred to as the "Inspection and Quarantine Certification Material") of the inbound foods shall also be required.

When participating in the rolling delivery and one-off delivery, the clients shall submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices to the Exchange before 14:30 of the handover day through the Members. If they fail to submit such certificates within the specified period, they shall be deemed disqualified for receiving or issuing VAT invoices, and shall be handled pursuant to the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange.

In case the rolling delivery is adopted for No. 2 soybean, the delivery declaration shall only be carried out with standard factory warehouse receipts.

With respect to the one-off delivery, in case storage warehouse delivery is adopted and the corresponding cargo is imported soybean, in addition to submit all the standard warehouse receipts corresponding to its delivery month contract positions to the Exchange prior to the market close on the first trading day following the last trading day (the "Submission Day of the Standard Warehouse Receipt"), the seller Member shall also submit the Inspection and Quarantine Certification Material corresponding to the delivered commodities before 14:00 of the Submission Day of the Standard Warehouse Receipt. If the Inspection and Quarantine Certification Material is submitted timely and also approved by the Exchange, the Exchange shall refund the delivery margins to the seller Member after the market close on the then-current day, pay eighty percent (80%) of the payments to the seller Member after the market close on the last delivery day and the remaining payments shall be paid after the seller Member submits the dedicated VAT invoice; in case the Inspection and Quarantine Certification Material is submitted after 14:00 of the Submission Day of the Standard Warehouse Receipt but before 14:00 of the third trading day following the last delivery day and is approved by the Exchange, the Exchange shall, after the market close on the third trading day following the last delivery day, refund the delivery margins to the seller Member, pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be paid after the seller Member submits the dedicated VAT invoice, and the Exchange shall also collect the late fee of CNY two (2) per ton per day from the Submission Day of the Standard Warehouse Receipt (inclusive) through the submission day of the Inspection and Quarantine Certification Material (inclusive) from the seller Member to compensate the buyer Member; in case the Inspection and Quarantine Certification Material is not submitted before 14:00 of the third trading day following the last delivery day or is submitted but not approved by the Exchange, the Exchange shall, after the market close of the third trading day following the last delivery day, return the standard warehouse receipt to the seller Member, refund the corresponding payments to the buyer Member, pay the buyer Member five percent (5%) of the contract value of No. 2 soybean of the seller Member as compensation without collecting any late fee, and refund the delivery margins to the seller Member.

In case the Inspection and Quarantine Certification Material is not submitted by the seller Member or is submitted but not approved by the Exchange, the buyer Member shall not be allowed to apply for deregistration of the standard warehouse receipt.

The seller Member shall deliver to the buyer Member the dedicated VAT invoice corresponding to the delivered commodities within seven (7) trading days after the Exchange makes eighty percent (80%) of the payments to the seller Member.

The No. 2 soybean futures contract delivery unit shall be one thousand (1,000) tons.

The No. 2 soybean standard warehouse receipt shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The No. 2 soybean standard warehouse receipt shall not be used as the margin.

When the No.2 soybean standard warehouse receipt is used for delivery, transaction or transfer, if the corresponding product is imported soybean, the relevant Inspection and Quarantine Certification Materials shall also be provided.

After the No. 2 soybean standard warehouse receipt is submitted to the Exchange, the trading margins of the selling positions of the latest delivery month which is of the amount equal to such receipts will not be collected. If storage warehouse delivery is adopted and the corresponding cargo is imported soybean, in addition to submit the standard warehouse receipt, the Inspection and Quarantine Certification Material shall also be submitted before 14:00 of the trading day. The trading margins of the selling positions of the latest delivery month which is of the amount equal to such receipts will not be collected upon settlement after examination and approval by the Exchange.

The differences of quality discounts and/or premiums of the No. 2 soybean futures contract shall be settled between the owner of the goods and the designated delivery warehouse.

No. 2 soybean shall be delivered in the form of bulk grain.

The dedicated VAT invoice shall be issued for delivery of No.2 Soybean.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees and other fees of No.2 Soybean shall be separately published by the Exchange.

With respect to the factory standard warehouse receipt of No. 2 soybean, the storage and dissipation fees shall be charged according to the spot standards of soybean within four (4) calendar days (inclusive of the fourth calendar day) after the deregistration day of the standard warehouse receipt (exclusive of the deregistration day); the storage and dissipation fees shall be charged respectively according to the spot standard of soybean meal and soybean oil after four (4) calendar days (exclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY ten (10) per ton when it handles the notice of intent to deliver.

The imported soybean in the warehouse shall be delivered with the change from the purpose of raw material for processing to the purpose of futures delivery, with no need to handle the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information three (3) calendar days before the commodities are loaded in the warehouse, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of No. 2 soybean shall be subject to the weighting by the designated delivery warehouse.

The designated delivery warehouse shall engage the inspection agency designated by the Exchange to inspect the quality of the goods loaded in the warehouse.

The owner shall notify the method of arrival, the quantity of arrival and the date of arrival to the designated delivery warehouse three (3) calendar days prior to the arrival thereof at the warehouse. The designated delivery warehouse shall notify, after receipt of the owner's notice of the loading in the warehouse, the designated inspection agency the aforesaid information which shall be clearly described in the quality inspection agreement. The inspection cost shall be borne by the owner and the forwarded by the designated delivery warehouse.

The flow sampling shall be carried out during the warehouse entry inspection of No.2 soybean, and the pile turning method shall be adopted in the sampling during the inspection of No. 2 soybean in the warehouse.

After completing the quality inspection of No. 2 soybean, the inspection agency designated by the Exchange shall issue one (1) inspection report with three (3) copies, and submit the original report to the designated delivery warehouse and one copy to the Exchange and the owner respectively.

If the owner or the designated delivery warehouse has any objection on the inspection result of the commodity inspection report, it shall file a written application for re-inspection with the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall specify the name of the warehouse, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the party raising the dispute. If the re-inspection result is in conformity with the inspection result of the commodity inspection report, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the party raising the dispute; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the original designated quality inspection agency.

The designated delivery warehouse shall inspect and accept the materials and certificates related to the quality of the loaded-in No. 2 soybean according to the relevant provisions of the Exchange.

The standard warehouse receipts of No. 2 soybean shall be deregistered within three (3) trading days following the last delivery day of each delivery month.

When No. 2 soybean are loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of standard warehouse receipts.

If the owner has any objection on quality of the loaded-out commodities, it shall first negotiate with the warehouse to solve the problem. If the negotiation fails, the owner shall file a written application for re-inspection within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have not been loaded out of the warehouse. The application for re-inspection shall specify the name of the warehouse, stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the re-inspection result is in conformity with the inspection result confirmed by the warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse.

If the factory warehouse delivery is adopted, when the owner picks up the commodities, the factory warehouse and the owner shall replace No. 2 soybean to be delivered with the soybean meal and soybean oil conforming to the futures delivery quality standards specified by the Exchange. The quantity of the soybean meal and soybean oil shall be 78.5% and 18.5% of the delivery quantity of No. 2 soybean respectively, and the replacement price difference shall be paid by the owner to the factory warehouse before picking up the commodities. The specific standard of such price difference shall be published separately by the Exchange. If such soybean meal and soybean oil conform to the quality standard of futures delivery, the owner shall not raise an objection about quality with regard to No. 2 soybean before the replacement. The weight of soybean meal and soybean oil shall be subject to the weight checking by the factory warehouse when loading out the commodities, and the packaging of soybean meal shall be subject to the relevant provisions of the Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange.

When the factory warehouse loads the goods out of the warehouse, the owner shall pick up the soybean meal and the soybean oil within four (4) calendar days (inclusive) after the deregistration day of standard warehouse receipts (exclusive of the deregistration day). The factory warehouse shall load the goods out of the warehouse within four (4) calendar days (inclusive) after the deregistration day standard warehouse receipts (exclusive of the deregistration day).

When the owner picks up soybean meal and soybean oil, the factory warehouse shall deem the soybean meal and the soybean oil as the commodities for futures delivery and give priority to the loading out of these goods.

Upon the goods being loaded out of the factory warehouse, the factory warehouse shall sample the soybean meal and soybean oil under the supervision of the owner and seal the samples after confirmation by both sides and keep the samples thirty (30) calendar days after the day of loading out the goods.

The owner may only raise objection over the quality of the soybean meal and the soybean oil after replacement of No. 2 soybean by loading out of the factory warehouse. If the owner has such objection, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days following the consignment date. The application for re-inspection shall specify the name of the factory warehouse, stack location or the number of the storage tank (if any), quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. It shall be deemed that the owner has no objection over the quality of the commodities loaded out of the warehouse in case of no objection of the prescribed manner within the prescribed period. The re-inspection of the reserved samples shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the sample inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be advanced by the owner. If the re-inspection result is in conformity with with the quality standards for delivery of soybean meal and soybean oil, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the factory warehouse..

Where the factory warehouse consigns commodities to the owner at a speed less than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee according to the method and standards provided by the Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange and the Detailed Rules of Soybean Oil Futures of Dalian Commodity Exchange respectively.

In case the soybean meal and the soybean oil are picked up at the factory warehouse after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse according to the method and standards provided by the Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange and the Detailed Rules of Soybean Oil Futures of Dalian Commodity Exchange, and the factory warehouse shall assume the liability related to the commodity quality, the consignment time and consignment speed of the soybean meal and the soybean oil until the full completion of the consignment of all the futures commodities.

In case the soybean meal and the soybean oil are picked up at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse respectively as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards:

Amount of late fee of No. 2 soybean = CNY 2/Ton*Day × Corresponding Quantity of the soybean meal × 19 Days + CNY 2/Ton*Day × Corresponding Quantity of the soybean oil × 19 Days.

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of the soybean meal × Quantity of which shall be, but fail to be, consigned according to the required daily consignment speed × 5% + One-off delivery settlement price of the last delivery month of the soybean oil × Quantity of the soybean oil which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 45, compensate the owner as follows: amount of compensation = One-off delivery settlement price of the last delivery month of the soybean meal × Quantity of the soybean meal which shall be, but fail to be, consigned according to the total quantity of the soybean meal × 5% + One-off delivery settlement price of the last delivery month of the soybean oil × Quantity of the soybean oil which shall be, but fail to be, consigned according to the total quantity of the soybean oil × 5%. In addition, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment and compensation = One-off delivery settlement price of the last delivery month of the soybean meal × Quantity of the soybean meal which shall be, but fail to be, consigned according to the total quantity of the soybean meal × 120% + One-off delivery settlement price of the last delivery month of the soybean oil × Quantity of the soybean oil which shall be, but fail to be, consigned according to the total quantity of the soybean oil × 120%

In the event of any violation by the factory warehouse described in Article 45 or 46 in the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, it shall be handled by the Exchange according to the relevant provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: No.2 Soybean Delivery Quality Standard of Dalian Commodity Exchange (F/DCE B003-2017) (Omitted)

Annex 2: List of Delivery Warehouses Designated for No. 2 Soybean of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

3. Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Soybean Meal Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of soybean meal futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the Overseas Special Participants, the Overseas Intermediaries, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for the standard deliverable products under the soybean meal futures contract are detailed in the Soybean Meal Delivery Quality Standard of Dalian Commodity Exchange (F/DCE M004-2020) as Annex 1 attached hereto.

The soybean meal futures contract shall take the form of physical delivery.

The delivery warehouses designated for soybean meal shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Soybean Meal of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the soybean meal futures contract are January, March, May, July, August, September, November and December.

The trading unit of the soybean meal futures contract is 10 MT/ Lot.

The price quote unit of the soybean meal futures contract is CNY/MT.

The minimum tick size of the soybean meal futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the soybean meal futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the soybean meal futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the soybean meal futures contract is the tenth trading day of the contract month.

The last delivery day of the soybean meal futures contract is the third trading day after the last trading day.

The ticker symbol of the soybean meal futures contract is M.

Chapter III Delivery and Clearing

Section I General Provisions

The soybean meal futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Where the EFP is applied through the standard warehouse receipts, the parties to the trading shall, in addition to submitting relevant EFP information and materials in accordance with the Measures for Trading Management of Dalian Commodity Exchange, submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices.

When participating in the rolling delivery and one-off delivery, the clients shall submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices to the Exchange before 14:30 of the handover day through the Members. If they fail to submit such certificates within the specified period, they shall be deemed disqualified for receiving or issuing VAT invoices, and shall be handled pursuant to the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange.

The standard warehouse receipt of the soybean meal shall be divided into the standard warehouse receipt of the storage warehouse and the standard factory warehouse receipt.

The packages of the soybean meal shall be the new woven sacks. The woven sack shall be 625 to 725 millimeters of the operative width and 1,075 to 1,225 millimeters of the operative length. The woven sack shall have no damage or leakage. With respect to its cleanness, the woven sack must be of no pollution or contamination from any toxic substances, and of no grease or oil dirt, mildew, or serious pollution or contamination from coal ash, lime, iron rust, soil, water stains or otherwise. The packing for the soybean meal which belong to the same client and are loaded in the warehouse in the same batch shall be of the uniform specification. The Exchange may adjust the packaging standards on the basis of the market situation of the physicals.

Each package of the soybean meal must be printed with the marks of the product name, the manufacturer's name, address and phone number, and the weight. The woven sack must be sewed with the label printed with the manufacturing date.

The number of the packages of the soybean meal shall not be calculated. The packing prices of the woven sacks shall be included in the futures contract trading price.

The dedicated VAT invoice shall be issued for delivery of soybean meal.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees (including the warehousing fees, custody dissipation, fumigation fees) and other fees of Soybean Meal shall be separately published by the Exchange.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY ten (10) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

When the soybean meal is loaded in the warehouse, the owner shall provide the information of the manufacturers, manufacturing dates, the product quality inspectors, the certification whether they are genetically modified products and the appropriate marks, the photocopies of the manufacturer's quality inspection report, of the soybean meal to the designated delivery warehouse.

The receiving and consigning weights of the soybean meal shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance.

The designated delivery warehouse shall inspect the soybean meal loaded in the warehouse subject to the applicable provisions of the Exchange. In case the inspection results are conforming, the designated delivery warehouse shall submit the relevant inspection report to the Exchange. The Exchange or the inspection agency engaged by the Exchange shall check the commodities loaded in the warehouse, and only after it has confirmed that there is no error, can the commodities loaded in the warehouse be deemed to pass the inspection.

When the designated delivery warehouse inspects the soybean meal loaded in the warehouse subject to the applicable provisions of the Exchange, the sampling shall be made by generally taking the stack as the unit; and with respect to the commodities of the same batch manufactured by the same factory, the sampling shall be made by taking no more than two hundred (200) tons as the unit.

The application for registration of standard warehouse receipts of the soybean meal warehouse shall be made within forty-five (45) calendar days (inclusive) from the manufacturing day of the commodities.

The deregistration of standard warehouse receipts shall be carried out against the warehouse receipts of the soybean meal prior to the last trading day of each March, July and November.

When the soybean meal is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of standard warehouse receipts.

If the owner has any objection on quality of the loaded-out commodities, it shall first negotiate with the warehouse to solve the problem. If the negotiation fails, the owner shall file a written application for re-inspection within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have not been loaded out of the warehouse. The application for re-inspection shall specify the name of the warehouse, stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the re-inspection result is in conformity with the quality standards for delivery, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse.

When the soybean meal is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of standard warehouse receipts (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of standard warehouse receipts (exclusive of the deregistration day).

When the soybean meal is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days following the consignment date. The re-inspection of the reserved samples shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result of the samples shall be the basis for settlement of the dispute. Where there is no provision herein, the relevant provisions of Article 33 hereof shall be applicable by reference.

Where the factory warehouse consigns commodities to the owner at a speed less than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The amount of late fee is CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The amount of late fee is CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 38, compensate the owner as follows: amount of compensation= One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%. In addition, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 38 or 39, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, it shall be handled by the Exchange according to the relevant provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Soybean Meal Delivery Quality Standard of Dalian Commodity Exchange (F/DCE M004-2020) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Soybean Meal of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

4. Detailed Rules of Soybean Oil Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Soybean Oil Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Soybean Oil Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of soybean oil futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for the standard deliverable products under the soybean oil futures contract are detailed in the Soybean Oil Delivery Quality Standard of Dalian Commodity Exchange (F/DCE Y002-2020) as Annex 1 attached hereto.

The soybean oil futures contract shall take the form of physical delivery.

The delivery warehouses designated for soybean oil shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Soybean oil of Dalian Commodity Exchange as Annex 2 attached hereto).

Soybean oil's designated delivery warehouse premium/discount can be a fixed or floating rate. The floating rate is calculated in accordance with Annex 3 Dynamic Premium and Discount Standard for Soybean Oil Futures on Dalian Commodity Exchange. The floating rate and the fixed rate will be determined by the Exchange and publicly announced. The Exchange may make adjustments to soybean oil's designated delivery warehouse and premium/discount rates depending on circumstances.

The contract months of the soybean oil futures contract are January, March, May, July, August, September, November and December.

The trading unit of the soybean oil futures contract is 10 MT/ Lot.

The price quote unit of the soybean oil futures contract is CNY/MT.

The minimum tick size of the soybean oil futures contract is 2 CNY/MT.

The maximum quantity of orders placed each time for the soybean oil futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the soybean oil futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the soybean oil futures contract is the tenth trading day of the contract month.

The last delivery day of the soybean oil futures contract is the third trading day after the last trading day.

The ticker symbol of the soybean oil futures contract is Y.

Chapter III Delivery and Clearing

Section I General Provisions

The soybean oil futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Where the EFP is applied through the standard warehouse receipts, the parties to the trading shall, in addition to submitting relevant EFP information and materials in accordance with the Measures for Trading Management of Dalian Commodity Exchange, submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices.

When participating in the rolling delivery and one-off delivery, the clients shall submit legal and valid qualification certificates indicating that they can receive or issue VAT invoices to the Exchange before 14:30 of the handover day through the Members. If they fail to submit such certificates within the specified period, they shall be deemed disqualified for receiving or issuing VAT invoices, and shall be handled pursuant to the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange.

The standard warehouse receipt of the soybean oil shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The dedicated VAT invoice shall be issued for delivery of soybean oil.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees (including the warehousing fees, custody dissipation fees) and other fees of Soybean Oil shall be separately published by the Exchange.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of the soybean oil shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance for automobile transport, through measurement of train tank ruler-metering for train transport, or through measurement of oil storage tank ruler-metering for vessel transport.

The designated delivery warehouse shall conduct inspection of the soybean oil loaded in the warehouse subject to the applicable provisions of the Exchange. In case the inspection results are conforming, the designated delivery warehouse shall submit the relevant inspection report to the Exchange. The Exchange or the inspection agency engaged by the Exchange shall check the commodities loaded in the warehouse, and only after it has confirmed that there is no error, can the commodities loaded in the warehouse be deemed to pass the inspection.

The designated delivery warehouse shall take one (1) oil pool, one (1) oil tank or one (1) vehicle or train tank as an inspection unit, upon inspection of the soybean oil loaded in the warehouse subject to the applicable provisions of the Exchange.

The deregistration of standard warehouse receipts of the soybean oil shall be carried out against the warehouse receipts prior to the last trading day of each March, July and November.

With respect to a storage warehouse with refining capacity, in case the owner requests refinement after the deregistration of standard warehouse receipts of the soybean oil storage warehouse, the warehouse shall be obligated to refine the soybean oil on its behalf, with the refined products, refining loss and refining costs to be determined through negotiations between the storage warehouse and the owner.

With respect to the factory warehouse with refining capacity, in case the owner requests refinement after the deregistration of standard warehouse receipts of the soybean oil factory warehouse, the factory warehouse shall be obligated to provide to it the refined soybean oil to its satisfaction, with the refined products, refining loss and refining costs to be determined through negotiations between the factory warehouse and owner. Under such circumstance, the consignment time and speed may not be consistent with those described in the applicable provisions of the Exchange, but shall be confirmed in writing by the factory warehouse and the owner and properly preserved for check.

When the soybean oil is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of standard warehouse receipts.

If the owner has any objection on quality of the loaded-out commodities, it shall first negotiate with the warehouse to solve the problem. If the negotiation fails, the owner shall file a written application for re-inspection within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have not been loaded out of the warehouse. The application for re-inspection shall specify the name of the warehouse, the number of the storage tank, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the re-inspection result is in conformity with the quality standards for delivery, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse.

When the soybean oil is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of standard warehouse receipts (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of standard warehouse receipts (exclusive of the deregistration day).

When the soybean oil is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days following the consignment date. The re-inspection of the reserved samples shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result of the samples shall be the basis for settlement of the dispute. Where there is no provision herein, the relevant provisions of Article 29 hereof shall be applicable by reference.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee;

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The amount of late fee is CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The amount of late fee is CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 34 herein, compensate the owner as follows: amount of compensation= One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%. In addition, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 34 or 35 herein, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, it shall be handled by the Exchange according to the relevant provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Soybean Oil Delivery Quality Standard of Dalian Commodity Exchange (F/DCE Y002-2020) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Soybean Oil of Dalian Commodity Exchange (Omitted)

Annex 3: Dynamic Premium and Discount Standard for Soybean Oil Futures on Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

5. Detailed Rules of RBD Palm Olein Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of RBD Palm Olein Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the RBD Palm Olein Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of RBD palm olein futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the Overseas Special Participants, the Overseas Intermediaries, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depository banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for the standard deliverable products under the RBD palm olein futures contract are detailed in the RBD Palm Olein Delivery Quality Standards of Dalian Commodity Exchange (F/DCE P002-2011) as Annex 1 attached hereto.

The RBD palm olein futures contract shall take the form of physical delivery.

The delivery warehouses designated for RBD palm olein shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for RBD Palm Olein of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the RBD palm olein futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the RBD palm olein futures contract is 10 MT/ Lot.

The price quote unit of the RBD palm olein futures contract is CNY/MT.

The minimum tick size of the RBD palm olein futures contract is 2 CNY/MT.

The maximum quantity of orders placed each time for the RBD palm olein futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the RBD palm olein futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the RBD palm olein futures contract is the tenth trading day of the contract month.

The last delivery day of the RBD palm olein futures contract is the third trading day after the last trading day.

The ticker symbol of the RBD palm olein futures contract is P.

Chapter III Delivery and Clearing

Section I General Provisions

The RBD palm olein futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Where the EFP is applied through the standard warehouse receipts, the parties to the trading shall submit legal and valid qualification certificates for receiving or issuing VAT invoices in addition to the relevant EFP information and materials under the Measures for Trading Management of Dalian Commodity Exchange.

Where a client engages in the one-off delivery, it shall submit the legal and valid qualification certificate for receiving or issuing VAT invoices to the Exchange before 14:30 of the handover day through the Member. If it fails to submit within the specified time limit, it shall be deemed as not qualified for receiving or issuing VAT invoices and the relevant provisions of the Measures for Delivery Management of Dalian Commodity Exchange shall apply.

The standard warehouse receipt of the RBD palm olein shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The differences of quality discounts and/or premiums of the RBD palm olein futures contract shall be settled between the owner of the commodities and the designated delivery warehouse.

The dedicated VAT invoice shall be issued for delivery of RBD palm olein.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees (including the warehousing fees, custody dissipation fees) and other fees of RBD Palm Olein shall be separately published by the Exchange.

During the course of the RBD palm olein futures trading, in case that war, social instability, natural disasters or other events are exerting, or are going to exert, significant impacts upon the imports of RBD palm olein, the Chief Executive Officer of the Exchange may take emergency measures such as adjusting the opening and closing time of the market, suspending or terminating trading. Upon settlement on the relevant day when the trading is terminated, the Exchange may liquidate positions of all or part of the RBD palm olein contract months based on the settlement price of the immediately preceding trading day.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of the RBD palm olein shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance for automobile transport, through measurement of train tank ruler-metering for train transport, or through measurement of oil storage tank ruler-metering for vessel transport.

The designated delivery warehouse shall inspect the RBD palm olein loaded in the warehouse subject to the applicable provisions of the Exchange. In case the inspection results are conforming, the designated delivery warehouse shall submit the relevant inspection report to the Exchange.

The designated delivery warehouse shall take one (1) oil pool, one (1) oil tank or one (1) vehicle or train tank as an inspection unit, upon inspection the RBD palm olein loaded in the warehouse subject to the applicable provisions of the Exchange.

The deregistration of standard warehouse receipts shall be carried out against the standard warehouse receipts of the RBD palm olein within three (3) trading days following the last delivery day.

When the RBD palm olein is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters five (5) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of standard warehouse receipts.

If the owner has any objection on quality of the loaded-out commodities, it shall first negotiate with the warehouse to solve the problem. If the negotiation fails, the owner shall file a written application for re-inspection within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have not been loaded out of the warehouse. The application for re-inspection shall specify the name of the warehouse, the number of the storage tank, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the re-inspection result is in conformity with the inspection result confirmed by the warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse.

When the RBD palm olein is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of standard warehouse receipts (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of standard warehouse receipts (exclusive of the deregistration day).

When the RBD palm olein is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for fifteen (15) calendar days following the consignment day.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within five (5) working days following the consignment date. The re-inspection of the reserved samples shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result of the samples shall be the basis for settlement of the dispute. Where there is no provision herein, the relevant provisions of Article 31 hereof shall be applicable by reference.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The amount of late fee is CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (exclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The amount of late fee is CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 36, compensate the owner as follows: amount of compensation= One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%. In addition, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 36 or 37, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, it shall be handled by the Exchange according to the relevant provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: RBD Palm Olein Delivery Quality Standard of Dalian Commodity Exchange (F/DCE P002-2011) (Omitted)

Annex 2: List of Delivery Warehouses Designated for RBD Palm Olein of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

6. Detailed Rules of Corn Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Corn Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Corn Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of corn futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the quality discounts and/or premiums of standard deliverable products and substitutes under the corn futures contract are detailed in the Corn Delivery Quality Standards of Dalian Commodity Exchange (F/DCE C005-2023) as Annex 1 attached hereto.

The corn futures contract shall take the form of physical delivery.

The delivery warehouses designated for corn shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Corn of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the corn futures contract are January, March, May, July, September and November.

The trading unit of the corn futures contract is 10 MT/Lot.

The price quote unit of the corn futures contract is CNY/MT.

The minimum tick size of the corn futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the corn futures contract shall be two thousand (2,000) lots.

The standard of trading margins, price limit range and position limit under the corn futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the corn futures contract is the tenth trading day of the contract month.

The last delivery day of the corn futures contract is the third trading day after the last trading day.

The ticker symbol of the corn futures contract is C.

Chapter III Delivery and Clearing

Section I General Provisions

The corn futures contract may apply the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The standard warehouse receipt of the corn shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The designated delivery warehouse of the corn may, subject to the approval by the Exchange, set up the extended warehouse area. In addition to the provisions of the Detailed Rules, the relevant provisions in the Measures for Designated Delivery Warehouse Management of Dalian Commodity Exchange shall apply.

The differences of the corn futures contract discounts and/or premiums shall be settled between the owner and the designated delivery warehouse.

The corn may be delivered in the form of bulk grain or in sack grain. The package of the sack grain shall be the gunny sack. The prices of the packages shall be determined by the Exchange and published prior to the listing of the corn contract.

The trading price of the corn futures contract shall be the bulk grain price. The packing payments shall be settled between the owner and the designated delivery warehouse.

The gunny sack shall be 107±5 centimeters long and 74±3 centimeters wide without any damage or leakage. With respect to its cleanness, the gunny sack must be of no pollution or contamination from any toxic substances, and of no grease or oil dirt, mildew, or serious pollution or contamination from coal ash, lime, iron rust, soil, water stains or otherwise. The Exchange may adjust the packaging standards on the basis of the market situation of the physical markets.

The packages and/or the accompanying documents shall bear the name, category, grade, place of origin and harvesting year and month of the products.

The quantity of the corn packages shall be calculated by taking twelve (12) gunny sacks as one (1) ton. Each gunny sack shall be deemed to weigh zero point nine (0.9) kilogram.

The sewing of the gunny sack shall be machine sewing or manual sewing. The machine sewing must satisfy the requirements that both ends of the opening thereof shall be tightly sewed and that the opening shall be double sewed; and the manual sewing must satisfy the requirement that the opening shall be sewed sixteen (16) times or more with double threads. In case the sewing of the opening thereof fails to satisfy such requirements, the gunny sack or sewing will be replaced or additionally made by the designated delivery warehouse with any extra expenses to be borne by the seller owner.

The dedicated VAT invoice shall be issued for delivery of corn.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees (including the warehousing fees, custody dissipation, fumigation fees) and other fees of Corn shall be separately published by the Exchange. During the period from May 1 to October 31, the high-temperature storage fees shall be additionally charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY ten (10) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

With respect to a designated delivery warehouse which has an extended warehouse area, the owner may choose to have the loading-in made at the main warehouse area or the extended warehouse area when corn is loaded in the warehouse. The owner which chooses to have the loading-in made at the extended warehouse area shall negotiate with the designated delivery warehouse with respect to the quantity of the goods to be consigned to the extended warehouse area and the discount and/or premium between the main warehouse area and the extended warehouse area. The designated delivery warehouse shall submit to the Exchange the bank guarantee letter and/or cash deposit or other method of security acceptable by the Exchange when it applies for registration of standard warehouse receipts for the goods located at the extended warehouse area. The standard warehouse receipt shall be registered after (i) the application for the standard warehouse receipt has been confirmed by the Member, (ii) the relevant security has been provided by the designated delivery warehouse to the Exchange, and (iii) an approval has been made by the Exchange after examination.

The receiving and consigning weights of corn shall be subject to the weighting by the designated delivery warehouse.

The designated delivery warehouse shall conduct inspection of the corn loaded in the warehouse subject to the applicable provisions of the Exchange. In case the inspection results are conforming, the designated delivery warehouse shall submit the relevant inspection report to the Exchange. The Exchange or the quality inspection agency entrusted by the Exchange shall verify the commodities loaded in the warehouse, and only after it has confirmed that there is no error, can the commodities loaded in the warehouse be deemed to pass the inspection.

The deregistration of standard warehouse receipts shall be carried out against the standard warehouse receipts of the corn prior to the last trading day of each March.

Under the circumstance the goods are stored at a designated delivery warehouse with an extended warehouse area, the client shall contact the designated delivery warehouse prior to the deregistration of the warehouse receipts to have the following items confirmed:

in case all of the goods are located at the main warehouse area, the provisions of Article 33 hereof shall apply; or

in case all or part of the goods are located at the extended warehouse area, the owner may choose to pick up the goods at the main warehouse area or at the extended warehouse area where the goods are located. In case the owner chooses to pick up the goods at the main warehouse area, the designated delivery warehouse shall be responsible for delivering the goods to the main warehouse area, with the transportation costs and other expenses to be borne by the designated delivery warehouse. In case the owner chooses to pick up the goods at the extended warehouse area, it shall negotiate with the designated delivery warehouse to confirm the quantity of the goods to be picked up at the extended warehouse area and the premium and/or discount between the main warehouse area and the extended warehouse area. The owner shall deregister the warehouse receipts within one (1) working day after the foregoing matters have been confirmed.

It shall be deemed that the goods are picked up at the main warehouse area in case the owner fails to contact the designated delivery warehouse to have the foregoing matters confirmed prior to the deregistration of standard warehouse receipts.

When the corn is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of standard warehouse receipts.

If the owner has any objection on quality of the loaded-out commodities, it shall first negotiate with the warehouse to solve the problem. If the negotiation fails, the owner shall file a written application for re-inspection within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have not been loaded out of the warehouse. The application for re-inspection shall specify the name of the warehouse, the stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the re-inspection result is in conformity with the inspection result confirmed by the warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse.

When the corn is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

When the corn is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samples shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days following the consignment date. The re-inspection of the reserved samples shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result of the samples shall be the basis for settlement of the dispute. Where there is no provision herein, the relevant provisions of Article 34 hereof shall be applicable by reference.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee. The late fee shall be determined according to the following methods:

from the starting date of commodities pick-up (inclusive of the then-current day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the commodities which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of commodities pick-up (exclusive of the then-current day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the pick-up is carried out after the date of expiry of the pick-up period (exclusive of the expiration day) and within nineteen (19) calendar days (inclusive of the nineteenth day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following methods:

from the date of expiration of the pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the commodities which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the then-current day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the owner picks up the goods at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month completed of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 39 herein, compensate the owner, and the amount of compensation = One-off delivery settlement price of the last delivery month completed of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month completed of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%.

In the event of any violation by the factory warehouse described in Article 39 or 40 herein, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such situation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

The load-out of the extended warehouse area of the goods located at the extended warehouse area and the settlement of disputes over the quality of the loaded-out commodities, shall be subject to relevant provisions of Article 33 and Article 34 herein by reference.

In case the goods located at the extended warehouse area is loaded out of and from the main warehouse area, the designated delivery warehouse shall deliver all of the goods with the mutually negotiated quantity to the main warehouse area within ten (10) calendar days after standard warehouse receipts are deregistered. During the period when the goods are delivered from the extended warehouse area to the main warehouse area, the designated delivery warehouse shall not collect storage charges and shall pay the deferred compensation to the owner.

The deferred compensation = CNY 0.5 /Ton*Day × the mutually negotiated quantity of the goods to be delivered from the extended warehouse area to the main warehouse area × the number of days.

After all the goods are delivered, the designated delivery warehouse shall notify the owner by facsimile with confirmation by phone, and the facsimile sending time shall be the time the goods are delivered. The owner shall pick up the goods at the main warehouse area within ten (10) working days after its receipt of the pickup notice by the designated delivery warehouse. The designated delivery warehouse will collect the storage charges as per the standard for the physicals as of the fourth working day after notifying the owner to pick up the goods. The settlement of disputes over the quality of the loaded-out commodities, shall be subject to relevant stipulations of Article 34 herein by reference.

In case the designated delivery warehouse fails to deliver the goods to the main warehouse area within ten (10) calendar days, it shall pay the liquidated damages calculated on the basis of the undelivered quantity to the owner.

The liquidated damages = the mutually negotiated but undelivered quantity of the goods to be delivered from the extended warehouse area to the main warehouse area × the delivery settlement price of the recent delivery month × 5%.

After the designated delivery warehouse pays the liquidated damages, the owner may choose either of the following methods to handle the commodities which fail to be delivered from the extended warehouse area to the main warehouse area:

the designated delivery warehouse provides to the client the commodities in physicals of the same quality and quantity and shall bear all the costs and expenses arising out of the delayed consignment; or

the owner picks up the goods personally, with all the costs and expenses arising out of the delayed consignment to be borne by the designated delivery warehouse.

For a standard warehouse receipt issued by the group delivery warehouse marked with one sub-warehouse that adopts self-quoted premiums and/or discounts and one or more sub-warehouses that adopt fixed premiums and/or discounts, where the owner holding such standard warehouse receipt chooses to pick up the goods from the sub-warehouse that adopts self-quoted premiums and/or discounts, application for deregistration of the standard warehouse receipt shall be filed accordingly; where the owner holding such standard warehouse receipt chooses to pick up the goods from the sub-warehouse that adopts fixed premiums and/or discounts, the owner shall apply to determine the sub-warehouses for picking-up goods on the fifth working day prior to the day of deregistration of the standard warehouse receipt (exclusive of the deregistration day), and the corresponding standard warehouse receipt shall be frozen and then deregistered on the fifth working day following the day when the application is filed (exclusive of the application day).

In addition to the preceding paragraph, relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to business related to such standard warehouse receipt.

The owner that chooses to pick up goods of the non-northeast area sub-warehouse at the corresponding sub-warehouse shall file an application for changing the pick-up location five (5) working days prior to the day of deregistration of the standard warehouse receipt (exclusive of the deregistration day), and the corresponding standard warehouse receipt shall be frozen. The standard warehouse receipt shall be deregistered on the fifth working day following the day when the application is filed (exclusive of the application day). The owner shall pick up the goods at the corresponding sub-warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The corresponding sub-warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The group delivery warehouse shall ensure that the daily consignment speed of the corresponding sub-warehouse shall not be lower than the daily consignment speed of the original non-northeast area sub-warehouse and that the quality of the goods shall conform to the futures delivery quality standards. The Exchange and the quality inspection agency as entrusted by the Exchange shall inspect the quality of the goods.

When a corresponding sub-warehouse consigns goods to the owner at a speed no higher than the daily consignment speed prescribed in the preceding paragraph, if the owner cannot pick up goods on time due to transportation capability limitations or other reasons, or the owner fails to pick up goods at the corresponding sub-warehouse within the pick-up period, or the corresponding sub-warehouse fails to consign goods as per the prescribed daily consignment speed in the preceding paragraph, or fails to complete the consignment of all commodities on time, the relevant provisions of the factory warehouse of the corn shall apply by reference.

The corresponding sub-warehouse shall carry out the sampling under the owner's supervision, and the samples shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day. The settlement of disputes over the quality of the loaded-out commodities, shall be subject to Clause 3 of Article 37 herein by reference.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Corn Delivery Quality Standard of Dalian Commodity Exchange (F/DCE C005-2023) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Corn of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

7. Detailed Rules of Linear Low Density Polyethylene Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Linear Low Density Polyethylene Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the LLDPE Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of linear low density polyethylene futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The quality standards for and the packaging requirements for the deliverable products under the linear low density polyethylene futures contracts shall be detailed in the LLDPE Delivery Quality Standard of Dalian Commodity Exchange (F/DCE L003-2014) as Annex 1 attached hereto.

Delivery shall be prohibited with respect to the non-conforming products identified by the original manufacturer and the linear low density polyethylene manufactured by taking the recovered materials as the raw materials.

The delivery products of linear low density polyethylene shall be those of delivery brands announced by the Exchange. The rules for management of delivery brands will be separately prescribed by the Exchange. The delivery brands, the relevant enterprises and the brand premiums and/or discounts shall be separately published by the Exchange.

Price difference of the brand premiums and/or discounts of the linear low density polyethylene futures contract shall be settled between the owner and the designated delivery warehouse.

If the owner is able to provide relevant certificates to prove the product quality conforms to the futures delivery quality standards issued by the enterprise applying for the delivery brand qualification, the linear low density polyethylene products of the delivery brand may be exempted from loading-in quality inspection.

The linear low density polyethylene futures contract shall take the form of physical delivery.

The delivery warehouses designated for linear low density polyethylene shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Linear Low Density Polyethylene of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the linear low density polyethylene futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the linear low density polyethylene futures contract is 5 MT/ Lot.

The price quote unit of the linear low density polyethylene futures contract is CNY/MT.

The minimum tick size of the linear low density polyethylene futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the linear low density polyethylene futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the linear low density polyethylene futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the linear low density polyethylene futures contract is the tenth trading day of the contract month.

The last delivery day of the linear low density polyethylene futures contract is the third trading day after the last trading day.

The ticker symbol of the linear low density polyethylene futures contract is L.

Chapter III Delivery and Clearing

Section I General Provisions

The linear low density polyethylene futures contract applies the exchange of futures for physicals (the "EFP") delivery and one-off delivery and may apply the bonded delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The EFPs delivery and one-off delivery using the bonded standard warehouse receipts shall be handled according to relevant provisions hereof.

The EFPs delivery and one-off delivery using the duty-paid standard warehouse receipts shall be handled according to relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

Standard warehouse receipt of linear low density polyethylene can be categorized into standard storage warehouse receipt and standard factory warehouse receipt, or bonded standard warehouse receipt and duty-paid standard warehouse receipt.

The delivery products of the linear low density polyethylene shall use the packages of the original manufacturer or the packages approved by the original manufacturer. The packing sacks shall bear the trademark, the product name, the product standard number, the net weight, the manufacturer's name and address as well as the product type.

The prices of the packages of the linear low density polyethylene shall be included in the linear low density polyethylene futures contract price.

The net weight of each sack of the delivery products of the linear low density polyethylene shall be 25±0.2 kilograms. Each ton shall have forty (40) sacks without calculation of any more or less thereof.

Except for the EFPs of bonded standard warehouse receipt (the "Bonded EFPs") for which the dedicated VAT invoice shall be issued, the common VAT invoice shall be issued for delivery of the linear low density polyethylene.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Linear Low Density Polyethylene shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules. Where there is any other special provision hereof on the bonded standard warehouse receipt, such provision shall prevail.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The batch grouping with respect to the quality inspection shall be carried out as per the same manufacturer and the same brand, with each batch being three hundred (300) tons. The inspection shall be carried in more than one (1) batch for those of more than three hundred (300) tons, or in one (1) batch for those less than three hundred (300) tons.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the linear low density polyethylene loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

In case that the owner or the designated delivery warehouse has any objection over the inspection result of the commodity inspection report, excluding commodities that are exempted from loading-in inspection, it shall file a written application for re-inspection with the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be borne by the party raising the dispute.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the manufacturer, brand, quality, packaging and the relevant materials and certificates of the linear low density polyethylene which has been loaded in the warehouse.

Upon registration of the futures standard warehouse receipt of the linear low density polyethylene, the owner shall provide the photocopies of the corresponding dedicated VAT invoices, and the designated delivery warehouse shall verify the sources of the goods.

The receiving and consigning quantity of the linear low density polyethylene shall be subject to the checking by the designated delivery warehouse.

With respect to the application for registration of linear low density polyethylene standard warehouse receipt of the storage warehouse (including those manufactured domestically or abroad), the period of the date of the application for registration from the manufacturing date of the commodities shall not exceed one hundred and eighty (180) calendar days.

The deregistration of the standard warehouse receipt shall be carried out against the warehouse receipts of the linear low density polyethylene prior to the last trading day of each March.

When the linear low density polyethylene is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after deregistration of the standard warehouse receipt.

If the owner has any objection on quality of the loaded-out commodities, it may firstly negotiate with the warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have been delivered but have not been loaded out of the warehouse. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner.

For commodities that are not exempted from loading-in inspection, if the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) as well as any losses incurred thereby, shall be borne by the warehouse; where the re-inspection result is consistent with the delivery quality standards, but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, the warehouse shall compensate the owner at the rate of CNY two hundred (200)/ton or less first, and shall have the right to claim against the applicant for the standard warehouse receipt registration and other liable persons thereafter, for which process the enterprise applying for the delivery brand qualification shall provide relevant assistance.

For commodities exempted from loading-in inspection, if the re-inspection result is in conformity with the delivery quality standards, the relevant fees and expenses incurred thereby shall be borne by the owner; if not, such fees and expenses shall be borne by the enterprise applying for the delivery brand qualification. If the re-inspection result does not conform with the delivery quality standards, or if the re-inspection result conforms with the delivery quality standards but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, unless otherwise agreed upon by the owner and the enterprise applying for the delivery brand qualification, the enterprise applying for the delivery brand qualification shall replace the commodities for the owner at the original delivery location within fifteen (15) calendar days following the day on which it received or should have received the re-inspection result. If the enterprise applying for the delivery brand qualification fails to replace the commodities within such period, the enterprise applying for the delivery brand qualification shall compensate the owner as per CNY two (2)/ton; if the enterprise applying for the delivery brand qualification fails to replace the commodities within sixty (60) calendar days following the day on which it received or should have received the re-inspection result, the enterprise applying for the delivery brand qualification shall compensate the owner all the losses incurred thereby. After the enterprise applying for the delivery brand qualification makes compensation to the owner, it shall have the right to claim against the applicant for the standard warehouse receipt registration or other liable persons.

When the linear low density polyethylene is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day).

When the linear low density polyethylene is loaded out of the factory warehouse, the factory warehouse shall draw samples under the owner's supervision, and the samples shall be sealed upon confirmation of both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the provisions. Such application shall indicate the name of the factory warehouse, quantity, quality index, manufacturers, the brand number and the stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sample inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or other reasons, the owner shall pay late fee to the factory warehouse. The late fee is calculated as follows:

from the start date of the pick-up period (inclusive), the late fee for each day shall be product of the quantity of the commodities that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse, and the factory warehouse shall nevertheless assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be calculated as follows:

from the expiration date of picking-up period (inclusive), the late fee for each day shall be product of the quantity of the commodities that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but completes the consignment of all the commodities on time, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which should have been consigned as per the required daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 38 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

the Exchange will provide to the owner the physical commodities of the same quality and quantity in other factory warehouses or other places and will bear all the costs and expenses arising out of or in connection with change of delivery site and the delayed consignment; or

the Exchange will refund to the owner the payment of the commodities and compensate the owner if it fails to provide the abovementioned commodities.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 120%

In the event of any default of the factory warehouse described in Article 38 or 39 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Bonded Standard Warehouse Receipt

Section I Generation of the Bonded Standard Warehouse Receipt

The processes for the generation of a bonded standard warehouse receipt shall be subject to the provisions applicable to the standard warehouse receipt of the Exchange.

The standard warehouse receipt applied and registered by the bonded delivery warehouse shall clearly indicate whether the corresponding commodities are under bonded status or duty-paid status, and the bonded delivery warehouse shall manage the commodities under different status separately.

Section II Circulation of the Bonded Standard Warehouse Receipt

The bonded standard warehouse receipt of the linear low density polyethylene may be used for one-off delivery or EFPs delivery.

The bonded standard warehouse receipt may be used as margins if approved by the Exchange.

Where the bonded standard warehouse receipt is used as margins, at the time of daily settlement, the Exchange shall take the settlement price without tax of the futures contracts of the latest delivery month of the product under such standard warehouse receipt on the then-current day as the benchmark price to calculate its market value. Before the market close on the then-current day, the settlement price without tax of the futures contracts of the latest delivery month of the product under such bonded standard warehouse receipt on the previous trading day shall be taken as the benchmark price to calculate its market value.

Benchmark price of the bonded standard warehouse receipt as margins before the market close = [(the settlement price of the futures contracts of the latest delivery month of the product on the previous trading day − the relevant costs) / (one (1) + the import VAT rate) − the consumption tax] / (one (1) + the import duty rate); benchmark price of the bonded standard warehouse receipt as margins at the settlement= [(the settlement price of the futures contracts of the latest delivery month of the product on the then-current day − the relevant costs) / (one (1) + the import VAT rate) − the consumption tax] / (one (1) + the import duty rate).

In addition to the provisions of the above three paragraphs in this Article, other specific processes of using bonded standard warehouse receipt as margins shall be subject to the relevant regulations of the Measures for Clearing Management of Dalian Commodity Exchange on standard warehouse receipt.

The "relevant costs" in paragraph three (3) of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices.

Section III Bonded EFPs

The Bonded EFPs shall refer to that the trading parties which hold the contracts of the same delivery month file an application to the Exchange on the basis of their negotiated consensus, and settle their respective futures positions at the price(s) prescribed by the Exchange after being approved by the Exchange, and simultaneously carry out the exchange between the payments and the physicals of the equivalent quantity.

Only bonded standard warehouse receipts are allowed for the Bonded EFPs.

The Member shall submit the application for Bonded EFPs before 14:00 on the trading day, whereupon the Exchange shall examine and approve the application within the immediate day of the application.

Before 14:00 of the EFP application day, the physicals seller Member shall submit the bonded standard warehouse receipt of the corresponding quantity to the Exchange, while the physicals buyer Member shall remit in full amount the delivery payments to the special settlement account of the Exchange, and the payment shall be calculated by the physicals agreed price and include bonded premiums/discounts of the non-benchmark delivery warehouse compared with benchmark delivery warehouse.

Bonded premiums/discounts of the non-benchmark delivery warehouse compared with benchmark delivery warehouse= premiums/discounts of the non-benchmark delivery warehouse compared with benchmark delivery warehouse / (one (1) + the import VAT rate) / (one (1) + the import duty rate).

The Exchange shall be responsible for handling delivery and receipts and payments of the bonded standard warehouse receipts for Bonded EFPs, and the handling fees will be separately stipulated and announced by the Exchange.

At the settlement of the Bonded EFPs on the approval day, the Exchange shall settle the corresponding contract positions of the parties to the trading in accordance with the trade prices in the application, with the profit or loss incurred thereof calculated into the liquidation profit or loss of the then-current day.

After the closing of the market on the approval day of the Bonded EFPs, the Exchange shall deliver the standard warehouse receipt submitted by the physicals seller Member to the physicals buyer Member, issue to the physicals buyer the Bonded Delivery Settlement Statement as needed for customs declaration with such contents as warehouse name, actual quantity and the delivery settlement price of the Bonded EFPs, and also pay 80% of the payments of the Bonded EFPs delivery goods to the physicals seller Member, with the rest payments to be settled against the physicals seller Member's submission of the common VAT invoice.

The delivery settlement price of the Bonded EFPs = [(the settlement price of the contracts of the latest delivery month of the trading day immediately preceding the Bonded EFPs day− the relevant costs) / (one (1) + the import VAT rate) − the consumption tax] / (one (1) + the import duty rate)

The "relevant costs" in paragraph two (2) of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and shall be separately announced by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices.

The delivery settlement price of the Bonded EFPs will be used by the customs as the benchmark price for levying import duty and levying import VAT on behalf of the tax authorities.

The physicals seller Member shall submit the common VAT invoice to the physicals buyer Member within seven (7) trading days after the approval day of the Bonded EFPs.

Section IV Bonded Delivery Settlement

The bonded delivery settlement for one-off delivery shall respectively comply with the delivery process stipulated in Chapter V of the Measures for Delivery Management of Dalian Commodity Exchange, and the delivery settlement price and the premiums/discounts of non-benchmark delivery warehouse compared with benchmark delivery warehouse will be treated as the basis for calculating the payments of the delivery goods.

After confirmation of the matching results, the buyer Member shall, within one trading day after the matching day, inform the seller Member of the specific matters for issuing dedicated VAT invoice including buyer's name, address, taxpayer's registration number and tax amount according to the requirement of the taxation authority.

The Exchange shall issue to the seller the Bonded Delivery Settlement Statement as needed for customs declaration, which shall include, among others, such information as warehouse name, actual quantity and bonded delivery settlement price.

The seller shall declare to the customs using the bonded delivery settlement price stated in the Bonded Delivery Settlement Statement as the transaction price, promptly complete the customs declaration procedures, and deliver the dedicated VAT invoice to the buyer within seven (7) trading days after the last delivery day in the one-off delivery.

Bonded delivery settlement price = [(the delivery settlement price − the relevant costs) / (one (1) + the import VAT rate) − the consumption tax] / (one (1) + the import duty rate).

The "relevant costs" in this paragraph four (4) of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices.

In case of any adjustment of the national taxation policy, the Exchange shall adjust and promptly publish the calculation formula of the bonded delivery settlement price.

The Exchange shall publish the bonded delivery settlement price for one-off delivery on the last trading day of the contract.

Section V Deregistration of Bonded Standard Warehouse Receipt

Deregistration of bonded standard warehouse receipt means the process that a legitimate holder of bonded standard warehouse receipt applies to the Exchange for picking up goods (customs clearance and exit) or for exchange to general bill of lading, and goes through the procedures of withdrawal of bonded standard warehouse receipt from circulation.

Where holders of bonded standard warehouse receipt intend to deregister their bonded standard warehouse receipt, they should handle this via the Members of the Exchange.

When picking up the goods, the owner of the goods shall submit to the bonded delivery warehouse its identity card and the power of attorney from the owner, and meanwhile settle with the bonded delivery warehouse any expense arising from the day immediately after the deregistration day of the bonded standard warehouse receipt to the day of picking up the goods.

The bonded delivery warehouse shall issue to the owner the list of bonded warehouse receipts.

Where the holder of the bonded standard warehouse receipt needs to go through the customs declaration procedures for import of the bonded commodity, it shall comply with the relevant regulations of the customs. The name and quantity of the commodity for customs declaration shall be consistent with the Bonded Delivery Settlement Statement and the list of the bonded warehouse receipts held by the holder.

Chapter V Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: LLDPE Delivery Quality Standard of Dalian Commodity Exchange (F/DCE L003-2014) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Linear Low Density Polyethylene of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

8. Detailed Rules of Polyvinyl Chloride Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Polyvinyl Chloride Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the PVC Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of polyvinyl chloride futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The standard deliverable products under the polyvinyl chloride futures contract shall be the Grade I product of SG5 type which satisfies the national standards of the Suspension Polyvinyl Chloride Resins of General Purpose (GB/T 5761-2018) (no requirements for the powder flowability). High grade products are permitted to be delivered as the substitute products; and there shall be no premiums and/or discounts in grade between the high grade products and Grade I products.

The delivery products of the polyvinyl chloride shall be those of the delivery brands announced by the Exchange. The rules for management of delivery brands will be separately prescribed by the Exchange. The delivery brands, the relevant enterprises and the brand premiums and/or discounts shall be separately published by the Exchange.

The price differences of the polyvinyl chloride futures contract's brand discounts and/or premiums shall be settled between the owner and the designated delivery warehouse.

The polyvinyl chloride products of delivery brands may be exempted from the loading-in quality inspection in case the owner is capable to provide relevant certificates to prove the product quality conforms to the futures delivery quality standards issued by the enterprise applying for the delivery brand qualification.

The polyvinyl chloride futures contract shall take the form of physical delivery.

The delivery warehouses designated for polyvinyl chloride shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Polyvinyl Chloride of Dalian Commodity Exchange as Annex attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the polyvinyl chloride futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the polyvinyl chloride futures contract is 5 MT/ Lot.

The price quote unit of the polyvinyl chloride futures contract is CNY/MT.

The minimum tick size of the polyvinyl chloride futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the polyvinyl chloride futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the polyvinyl chloride futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the polyvinyl chloride futures contract is the tenth trading day of the contract month.

The last delivery day of the polyvinyl chloride futures contract is the third trading day after the last trading day.

The ticker symbol of the polyvinyl chloride futures contract is V.

Chapter III Delivery and Clearing

Section I General Provisions

The polyvinyl chloride futures contract shall adopt the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Standard warehouse receipt of polyvinyl chloride can be categorized into standard storage warehouse receipt and standard factory warehouse receipt.

The polyvinyl chloride delivery products shall take the packages of the original manufacturer or the packages approved by the original manufacturer. The packing sacks shall bear the trademark, the product name, the product standard number, the net weight, the manufacturer's name and address as well as the product type.

The packing materials shall be the kraft paper sacks with an internally laid plastic film bag, the polypropylene woven sacks and/or the compound sacks with the kraft paper and the polypropylene crochet, which shall procure that the package will not break and that the products therein will not be polluted, contaminated or leak during normal storage and carriage. The net content of each sack thereof shall be 25±0.25 kilograms. Each ton shall have forty (40) sacks without calculation of any more or less thereof.

The prices of the packages of the polyvinyl chloride shall be included in the polyvinyl chloride contract price.

The dedicated VAT invoice shall be issued for delivery of polyvinyl chloride.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Polyvinyl Chloride shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The batch grouping with respect to the quality inspection shall be carried out as per the same manufacturer and the same brand, with each batch being three hundred (300) tons. The inspection shall be carried in more than one (1) batch for those of more than three hundred (300) tons, or in one (1) batch for those less than three hundred (300) tons.

The sampling and experimental methods shall be subject to the relevant provisions of GB/T 5761-2018.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the polyvinyl chloride loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

In case that the owner or the designated delivery warehouse has any objection over the inspection result of the commodity inspection report during loading-in of the storage warehouse commodities, excluding commodities that are exempted from loading-in inspection, it shall file a written application for re-inspection to the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be borne by the party raising the dispute.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the manufacturer, brand, quality, packaging and the relevant materials and certificates of the polyvinyl chloride which has been loaded in the warehouse.

Upon registration of the futures standard warehouse receipt of the polyvinyl chloride, the owner shall provide the photocopies of the corresponding dedicated VAT invoices, and the designated delivery warehouse shall verify the sources of the goods.

The receiving and consigning quantity of the polyvinyl chloride shall be subject to the checking by the designated delivery warehouse.

With respect to the application for registration of polyvinyl chloride standard warehouse receipt of the storage warehouse (including those manufactured domestically or abroad), the period of the date of the application for registration from the manufacturing date of the commodities shall not exceed one hundred and eighty (180) calendar days.

The deregistration of the standard warehouse receipt shall be carried out against the standard warehouse receipts of the polyvinyl chloride prior to the last trading day of each March.

When the polyvinyl chloride is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have been delivered but have not been loaded out of the warehouse. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the re-inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner.

For commodities that are not exempted from loading-in inspection, if the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) as well as any losses incurred thereby shall be borne by the warehouse; where the re-inspection result is consistent with the delivery quality standards, but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, the warehouse shall compensate the owner at the rate of CNY two hundred (200)/ton or less first, and shall have the right to claim against the applicant for the standard warehouse receipt registration and other liable persons thereafter, for which process the enterprise applying for the delivery brand qualification shall provide relevant assistance.

For commodities exempted from loading-in inspection, if the re-inspection result for the dispute is in conformity with the delivery quality standards, the relevant fees and expenses incurred thereby shall be borne by the owner; if not, such fees and expenses shall be borne by the enterprise applying for the delivery brand qualification. If the re-inspection result for the dispute does not conform with the delivery quality standards, or if the re-inspection result conforms with the delivery quality standards but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, unless otherwise agreed upon by the owner and the enterprise applying for the delivery brand qualification, the enterprise applying for the delivery brand qualification shall replace the commodities for the owner at the original delivery location within fifteen (15) calendar days following the day on which it received or should have received the re-inspection result. If the enterprise applying for the delivery brand qualification fails to replace the commodities within such period, the enterprise applying for the delivery brand qualification shall compensate the owner as per CNY two (2)/ton; if the enterprise applying for the delivery brand qualification fails to replace the commodities within sixty (60) calendar days following the day on which it received or should have received the re-inspection result, the enterprise applying for the delivery brand qualification shall compensate the owner all the losses incurred thereby. After the enterprise applying for the delivery brand qualification makes compensation to the owner, it shall have the right to claim against the applicant for the standard warehouse receipt registration or other liable persons.

When the polyvinyl chloride is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day).

When the polyvinyl chloride is loaded out of the factory warehouse, the factory warehouse shall draw samples under the owner's supervision, and the samples shall be sealed upon confirmation of both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the factory warehouse. If the negotiation fails, the owner shall file a written application for re-inspection with the Exchange within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the relevant provisions. Such application shall indicate the name of the factory warehouse, quantity, quality index, manufacturers, the brand number and the stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or other reasons, the owner shall pay late fee to the factory warehouse. The late fee is calculated as follows:

from the start date of the pick-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse, and the factory warehouse shall nevertheless assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be calculated as follows:

from the expiration date of picking-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but completes the consignment of all the commodities on time, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which should have been consigned as per the required daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 38 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

the Exchange will provide to the owner the physical commodities of the same quality and quantity in other factory warehouses or other places and will bear all the costs and expenses arising out of or in connection with change of delivery site and the delayed consignment; or

the Exchange will refund to the owner the payment of the commodities and compensate the owner if it fails to provide the abovementioned commodities.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 120%

In the event of any default of the factory warehouse described in Article 38 or 39 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex: List of Delivery Warehouses Designated for Polyvinyl Chloride of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

9. Detailed Rules of Coke Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Coke Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Coke Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of coke futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the quality discounts and/or premiums of standard deliverable products and substitutes under the coke futures contract are detailed in the Coke Delivery Quality Standards of Dalian Commodity Exchange (F/DCE J003-2024) as Annex 1 attached hereto.

The coke futures contract shall take the form of physical delivery.

The delivery warehouses designated for coke shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Coke of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the coke futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the coke futures contract is 100 MT/ Lot.

The price quote unit of the coke futures contract is CNY/MT.

The minimum tick size of the coke futures contract is 0.5 CNY/MT.

The maximum quantity of orders placed each time for the coke futures contract shall be five hundred (500) lots.

The standard of trading margins, price limit range and position limit under the coke futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the coke futures contract is the tenth trading day of the contract month.

The last delivery day of the coke futures contract is the third trading day after the last trading day.

The ticker symbol of the coke futures contract is J.

Chapter III Delivery and Clearing

Section I General Provisions

The coke futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The standard warehouse receipt of the coke shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The differences of the discounts and/or premiums of the coke futures contract shall be settled between the owner of the commodities and the designated delivery warehouse.

The dedicated VAT invoice shall be issued for delivery of cokes.

The delivery commissions for cokes shall be CNY one (1) per ton; the storage fees shall be CNY one (1) per day per ton.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, three (3) calendar days prior to loading the commodities in the warehouse, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse.

The owner shall notify, three (3) calendar days prior to the loading-in the warehouse, to the designated delivery warehouse the method of delivery, the quantity of delivery, the date of delivery, and whether to apply for the test of equilibrium moisture. The designated delivery warehouse shall notify, after its receipt of the owner's notice of loading-in the warehouse, to the designated quality inspection agency the aforesaid information which shall be clearly described in the quality inspection agreement. In addition, the quality inspection agreement shall provide for, among other things, the day and night operation fees, the method that the designated delivery warehouse notifies the designated quality inspection agency of the coke loaded in the warehouse, the quantity of inspection, the time of issuing the inspection report, and the liability arising out of or in connection with the incurred losses for any reason attributable to the designated quality inspection agency's failure to timely appear at the site. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse. If the owner does not apply for the test of equilibrium moisture, it shall be treated that the equilibrium moisture is >1%.

The sampling of the coke shall be carried out in the coke flows at the time of being loaded in and stacked in the warehouse.

The minimum quantity of the samplings shall be three thousand (3,000) tons, and any samplings less than three thousand (3,000) tons shall be deemed to be of three thousand (3,000) tons for the charge calculation purpose.

The receiving and consigning weights of coke shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance or rail weighbridge. The designated delivery warehouse shall, on the basis of the total moisture test result of the coke issued by the quality inspection agency designated by the Exchange and subject to the provisions of the Coke Delivery Quality Standard of Dalian Commodity Exchange ("DCE") (F/DCE J003-2024), calculate the weight which shall be the basis for issuing a warehouse receipt.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the coke loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the quality and other relevant materials and certificates of the coke which has been loaded in the warehouse.

The deregistration of the standard warehouse receipt shall be carried out against the standard warehouse receipts of the coke prior to the last trading day of each March.

When the coke is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

Upon the coke being loaded out of the warehouse, the designated delivery warehouse shall issue to the owner the actual test result of total moisture tested by the designated delivery warehouse and produce the quality inspection report upon registration of the warehouse receipt.

The designated delivery warehouse shall calculate, on the basis of the actual test result of total moisture and the Coke Delivery Quality Standards of Dalian Commodity Exchange (F/DCE J003-2024), the weight to be loaded out of the warehouse and then have the sufficient weight loaded out.

The designated delivery warehouse may settle the quality premiums and discounts with the clients on the basis of the quality inspection report upon registration of the warehouse receipt. If the quality inspection report upon registration of the warehouse receipt does not stipulate the test result of equilibrium moisture, it shall be treated that the equilibrium moisture is >1%.

The two parties may also negotiate to draw and keep the samples and, in case of no objection from the buyer or seller to the quality of the coke within fifteen (15) calendar days after being loaded out of the warehouse, settle the quality premiums and discounts on the basis of the quality inspection report upon registration of the warehouse receipt, or otherwise on the basis of the sampling inspection results in case of any objection from the buyer and/or seller to the quality of the coke. In case there is any difference between the sampling inspection result and the inspection result upon registration of the warehouse receipt but within the error margin stipulated in the national standard and other relevant standards, the quality inspection report upon registration of the warehouse receipt shall prevail.

The owner who has a dispute with respect to the actual total moisture test result by the designated delivery warehouse shall entrust the designated quality inspection agencies to have the inspection carried out on site, and the inspection result shall be the weight measurement basis of being loaded out of the warehouse. The designated quality inspection agency shall be negotiated and determined by the owner and the designated delivery warehouse. If the negotiation fails, the Exchange shall designate the quality inspection agency. The inspection fee shall be borne by the owner.

In case the coke has not been loaded out of the warehouse, the owner shall firstly negotiate with the warehouse if there is any dispute about the quality inspection result of the coke. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts. The application for re-inspection shall indicate the name of the warehouse, stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange. The re-inspection fees shall be advanced by the owner.

The owner may choose either of the following two methods to have sampling and reserved sample carried out:

to continue the loading-out, and designate a quality inspection agency to have the sampling and reserved sample carried out in the coke flows; or

without loading-out, to designate a quality inspection agency to have the sampling carried out through shifting the stack or otherwise.

Both parties shall take the sampling inspection result as the basis for dispute settlement, and in case there is any difference between such sampling inspection result and the inspection result upon registration of the warehouse receipt but within the error margin stipulated in the national standard and other relevant standards, the sampling inspection result shall be deemed to be consistent with the inspection result presented by the designated delivery warehouse and inspection result upon registration of the warehouse receipt shall be used as the basis for dispute settlement.

Related fees and expenses (including, but not limited to, the inspection charges and the travel expenses) and the loss incurred thereby shall be borne by the owner in case the inspection result of the sample is consistent with the inspection result presented by the designated delivery warehouse, and otherwise, borne by the designated delivery warehouse.

When the coke is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The factory warehouse shall consign the commodities in accordance with the loading-in quality standard under the contract, and shall provide the original quality inspection report issued by the factory to the owner, and the report shall be used as the basis of settlement of the quality premiums and discounts. If the quality inspection report does not stipulate the test result of equilibrium moisture, it shall be treated that the equilibrium moisture is >1%.

When the coke is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days following the consignment day, file in writing an application for re-inspection. Such application shall indicate the name of the factory warehouse, stack location (if any), quantity, the quality index of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sampling inspection result shall be the basis for any dispute settlement. In case there is any difference between such sampling inspection result and the inspection result presented by the factory warehouse but within the error margin stipulated in the national standard and other relevant standards, the sampling inspection result shall be deemed to be consistent with the inspection result presented by the factory warehouse and shall be used as the basis for dispute settlement. The re-inspection costs shall be advanced by the owner. If the inspection result of the sample is in conformity with the inspection result presented by the factory warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The standard amount of late fee shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, unless all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The standard amount of late fee shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation of the products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily load out speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 38 of the Detailed Rules, compensate the owner, the amount of such compensation for products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 38 or 39 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Coke Delivery Quality Standard of Dalian Commodity Exchange (F/DCE J003-2024) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Coke of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

10. Detailed Rules of Coking Coal Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Coking Coal Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Coking Coal Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of coking coal futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the quality discounts and/or premiums of standard deliverable products and substitutes under the coking coal futures contract are detailed in the Coking Coal Delivery Quality Standards of Dalian Commodity Exchange (F/DCE JM003-2022) as Annex 1 attached hereto.

The coking coal products produced by manufacturers recognized by the Exchange within the specific quality standards scope shall be the coking coal with brand. The coking coal brands, quality standards scope, manufacturers and premiums and/or discounts of the brands shall be separately promulgated by the Exchange. The Exchange may adjust the coking coal brands, quality standards scope, manufacturers and premiums and/or discounts of the brands based on market situation and will release the relevant information in a timely manner.

The coking coal futures contract shall take the form of physical delivery.

The delivery warehouses designated for coking coal shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Coking Coal of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the coking coal futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the coking coal futures contract is 60 MT/Lot.

The price quote unit of the coking coal futures contract is CNY/MT.

The minimum tick size of the coking coal futures contract is 0.5 CNY/MT.

The maximum quantity of orders placed each time for the coking coal futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the coking coal futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the coking coal futures contract is the tenth trading day of the contract month.

The last delivery day of the coking coal futures contract is the third trading day after the last trading day.

The ticker symbol of the coking coal futures contract is JM.

Chapter III Delivery and Clearing

Section I General Provisions

The coking coal futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The standard warehouse receipt of the coking coal shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

Delivery declaration of coking coal with brand shall only be made with standard factory warehouse receipt.

The differences of the quality discounts and/or premiums and the brand premiums and/or discounts of the coking coal futures contract shall be settled between the owner of the commodities and the designated delivery warehouse.

The dedicated VAT invoice shall be issued for delivery of coking coals.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Coking Coal shall be separately published by the Exchange.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, three (3) calendar days prior to loading the commodities in the warehouse, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse.

The owner shall notify, three (3) calendar days prior to the loading-in, to the designated delivery warehouse the method of delivery, the quantity of delivery and the date of delivery. The designated delivery warehouse shall notify, after its receipt of the owner's notice of loading-in the warehouse, to the designated quality inspection agency the aforesaid information which shall be clearly described in the quality inspection agreement. In addition, the quality inspection agreement shall provide for, among other things, the day and night operation fees, the method that the designated delivery warehouse notifies the designated quality inspection agency of the coking coal to be loaded in the warehouse, the quantity of inspection, the time of issuing the inspection report, and the liability arising out of or in connection with the incurred losses for any reason attributable to the designated quality inspection agency's failure to timely appear at the site. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The sampling of the coking coal shall be carried out in the coking coal flows at the time of being loaded in and stacked in the warehouse.

The receiving and consigning weights of coking coal shall be subject to the weighting by the designated delivery warehouse through the measurement of wagon balance or rail weighbridge. The designated delivery warehouse shall, on the basis of the moisture test result of the coking coal issued by the quality inspection agency designated by the Exchange and subject to the provisions of the Coking Coal Delivery Quality Standards of Dalian Commodity Exchange (F/DCE JM003-2022), calculate the weight which shall be the basis for issuing a warehouse receipt.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the coking coal loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the quality and other relevant materials and certificates of the coking coal which has been loaded in the warehouse.

The deregistration of the standard warehouse receipt shall be carried out against the warehouse receipts of the coking coal within three (3) trading day following the last delivery day.

When the coking coal is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

Upon the coking coal being loaded out of the warehouse, the designated delivery warehouse shall issue to the owner the actual test result of moisture tested by the designated delivery warehouse and produce the quality inspection report upon registration of the warehouse receipt.

The designated delivery warehouse shall calculate, on the basis of the actual test result of moisture and the Coking Coal Delivery Quality Standards of Dalian Commodity Exchange (F/DCE JM003-2022), the weight to be loaded out of the warehouse and then have the sufficient weight loaded out.

The designated delivery warehouse may settle the quality premiums and discounts with the clients on the basis of the quality inspection report upon registration of the warehouse receipt, or after the sampling and reserved sampling through mutual negotiations and without objection from the buyer or seller to the quality of the coking coal within fifteen (15) calendar days after being loaded out of the warehouse, on the basis of the quality inspection report upon registration of the warehouse receipt, or otherwise on the basis of the sampling inspection results in case of any objection from the buyer and/or seller to the quality of the coking coal. The quality inspection report upon registration of the warehouse receipt shall prevail in case of any inconsistency between the sampling inspection result and the inspection result upon registration of the warehouse receipt provided, however, that such inconsistency falls within the scope of the national standard deviation provisions.

The owner who has a dispute with respect to the moisture actual test result by the designated delivery warehouse shall entrust the designated quality inspection agencies to have the inspection carried out on site, and the inspection result shall be the weight measurement basis of being loaded out of the warehouse. The designated quality inspection agency shall be negotiated and determined by the owner and the designated delivery warehouse. If the negotiation fails, the Exchange shall designate the quality inspection agency. The inspection fee shall be borne by the owner.

In case the coking coal has not been loaded out of the warehouse, the owner may firstly negotiate with the warehouse if there is any dispute about the quality inspection result of the coking coal. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts. The application for re-inspection shall indicate the name of the warehouse, stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange. The re-inspection fees shall be advanced by the owner.

The owner may choose either of the following two methods to have sampling and reserved sample carried out:

to continue the loading-out, and designate a quality inspection agency to have the sampling and reserved sample carried out in the coking coal flows; or

without loading-out, to designate a quality inspection agency to have the sampling carried out through shifting the stack or otherwise.

Both parties shall take the sampling inspection result as the basis for dispute settlement. It shall be deemed that the sampling inspection result is consistent with the inspection result presented by the designated delivery warehouse and shall be deemed to be the basis for dispute settlement in the event of any inconsistency between the sampling inspection result and the inspection result upon registration of the warehouse receipt provided, however, that such inconsistency falls within the scope of the national standard deviation provisions.

Related fees (including, but not limited to, the inspection charges and the travel expenses) and the loss incurred thereby shall be borne by the owner in case the inspection result of the sample is consistent with the inspection result presented by the designated delivery warehouse and otherwise, borne by the designated delivery warehouse.

When the coking coal is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day), and shall provide the delivery services as reasonably requested by the owner and shall negotiate with the owner with respect to the transportation fees, loss and otherwise.

For coking coal without brand, the factory warehouse shall have the goods loaded out subject to the quality standards for being loaded in the warehouse as required by the contract and shall provide the quality inspection report to the owner issued by the factory with respect to such goods which shall be used as the basis of settlement of the quality premiums and discounts.

For coking coal with brand, the factory warehouse shall have the goods loaded out subject to the quality standards scope of such brand promulgated by the Exchange and shall provide relevant materials for recognizing the coking coal with brand to the owner, including:

the original of the certificate of analysis issued by the manufacturer that complies with the requirements of the Exchange, which shall set out brand, quality, quantity, manufacturer and other information, with the manufacturer’s company seal affixed; and

other documents required by the Exchange.

The delivered commodities shall be deemed as coking coal without brand if the factory warehouse fails to provide the relevant materials for recognizing the coking coal with brand as specified in the preceding paragraph.

The premiums and/or discounts of the coking coal with brand settled between the factory warehouse and the owner shall include the quality premiums and/or discounts as well as the brand premiums and/or discounts promulgated by the Exchange. The original certificate of analysis shall be the basis for settlement of quality premiums and/or discounts.

When the coking coal is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for fifteen (15) calendar days following the consignment day.

If the owner has any objection over the quality or brand of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within five (5) working days following the consignment day, file in writing an application for re-inspection. Such application shall indicate the name of the factory warehouse, stack location (if any), brand name (if any), quantity, the quality index of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality and brand of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sampling inspection result shall be the basis for any dispute settlement. In case there is any difference between such sampling inspection result and the inspection result presented by the factory warehouse but within the error margin stipulated in the national standard, the sampling inspection result shall be deemed to be consistent with the inspection result presented by the factory warehouse and shall be used as the basis for dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result of the sample is in conformity with the inspection result presented by the factory warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the factory warehouse. If the inspection result of the sample coking coal with brand is inconsistent with the quality standards scope of such brand, the premiums of brands shall not be settled.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The standard amount of late fee shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The standard amount of late fee shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation of the products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily load out speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 38 of the Detailed Rules, compensate the owner, the amount of such compensation for products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 38 or 39 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

For a standard warehouse receipt issued by the group delivery warehouse marked with one sub-warehouse that adopts self-quoted premiums and/or discounts and one or more sub-warehouses that adopt fixed premiums and/or discounts, when the owner picks up the goods at the selected sub-warehouse for picking up goods, the selected sub-warehouse shall provide the owner with the quality inspection report evidencing the corresponding goods conform to the delivery quality standards, which shall be used as the basis of settlement of the quality premiums and discounts. In the event that the goods delivered by the selected sub-warehouse are coking coals with brand, the relevant business shall be handled in accordance with Article 34.

In addition to the preceding paragraph, relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to business related to such standard warehouse receipt.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Coking Coal Delivery Quality Standard of Dalian Commodity Exchange (F/DCE JM003-2022) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Coking Coal of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

11. Detailed Rules of Iron Ore Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Iron Ore Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Iron Ore Futures Contract of Dalian Commodity Exchange for the purpose of regulating trading activities of iron ore futures contracts in Dalian Commodity Exchange (the "Exchange").

The Exchange, its Members, the Overseas Special Participants (the "OSPs"), the Overseas Intermediaries, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depository banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards and the quality discounts and/or premiums of the standard deliverable products and substitutes under the iron ore futures contract are detailed in the Iron Ore Delivery Quality Standards of Dalian Commodity Exchange (F/DCE I004-2021) as Annex 1 attached hereto.

The iron ore delivery products shall be commodities of specific brands produced by manufacturers recognized by the Exchange. The deliverable brands, manufacturers and premiums and/or discounts of the brands shall be separately promulgated by the Exchange. The Exchange may adjust the deliverable brands, manufacturers and premiums and/or discounts of the brands based on market situation, and will publicize such adjustments in a timely manner.

The iron ore futures contract shall take the form of physical delivery.

The delivery warehouses designated for iron ore shall be categorized into benchmark delivery warehouses and non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Iron Ore of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of iron ore futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of iron ore futures contract is 100 MT/Lot.

The price quote unit of iron ore futures contract is CNY/MT.

The tick size of iron ore futures contract is 0.5 CNY/MT.

The maximum quantity of orders placed each time for iron ore futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under iron ore futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of iron ore futures contract is the tenth (10th) trading day of the contract month.

The last delivery day of iron ore futures contract is the third (3rd) trading day after the last trading day.

The ticker symbol of iron ore futures contract is I.

Chapter III Delivery and Clearing

Section I General Provisions

Iron ore futures contract is available for the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery. Bonded delivery is applicable to iron ore futures contract.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFP delivery, rolling delivery and one-off delivery involving bonded standard warehouse receipt, the applicable provisions of the Detailed Rules shall apply.

With respect to the EFP delivery, rolling delivery and one-off delivery involving duty-paid standard warehouse receipt, the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply.

The delivery unit of iron ore futures contract delivery unit shall be five thousand (5,000) tons.

Standard warehouse receipt of iron ore can be categorized into standard warehouse receipt of storage warehouse and standard factory warehouse receipt, or bonded standard warehouse receipt and duty-paid standard warehouse receipt.

Delivery declaration of domestically produced iron ores shall only be made with standard factory warehouse receipt.

Fixed or self-quoted premium or discount can be adopted at the pick-up location of iron ore factory warehouse (see Annex 2: List of Designated Delivery Warehouses for Iron Ore of Dalian Commodity Exchange). The self-quoted premium or discount shall be determined according to the quotation of the factory warehouse. The self-quoted premium or discount and the specific determination method shall be promulgated separately by the Exchange.

Price difference under quality premiums and/or discounts as well as brand premiums and/or discounts of iron ore futures contract shall be settled between the owner of the commodities and the designated delivery warehouse, except for handing-over of bonded iron ore.

With respect to iron ore, dedicated VAT invoice shall be issued for handing-over of duty-paid commodities, and common VAT invoice shall be issued for handing-over of bonded commodities.

For handing-over of duty-paid commodities, the dedicated VAT invoice shall be issued by the seller of the delivery to the corresponding buyer, and shall be forwarded, obtained, and verified by the Members of the buyer and seller client. The Exchange will fully settle the remaining payments according to the result confirmed by the Members of the parties.

For handing-over of bonded commodities, the domestic seller client shall issue common VAT invoice to the seller Member, and the overseas seller client, the OSP, or the Overseas Intermediary shall issue corresponding certificate of receipt to the seller Member; the seller Member shall issue common VAT invoice to the Exchange; the Exchange shall issue common VAT invoice to the buyer Member; and the buyer Member shall issue common VAT invoice to the buyer client, the OSP, or the Overseas Intermediary.

For handing-over of duty-paid commodities, if the seller Member fails to provide the dedicated VAT invoice within the prescribed time, the Exchange will charge the seller Member late fee at the rate of zero point five thousandth (0.5‰) per day of payment amount from the second (2nd) day on which the dedicated VAT invoice should have been provided, and will pay such late fee to the buyer Member as compensation; the seller Member will be deemed as failure to provide dedicated VAT invoice if it fails to provide the invoice within thirty (30) calendar days, in which circumstance the Exchange will charge the compensation as per the VAT amount calculated pursuant to the national taxation policies, and such amount will be paid to the buyer Member together with the late fee as compensation. The foregoing fees and amounts will be deducted from the delivery payment fund reserved at the Exchange by the seller Member, and the remaining payment fund shall belong to the seller Member. In case the buyer and the seller agree otherwise, such agreement shall prevail.

For handing-over of bonded commodities, if the seller Member fails to provide the common VAT invoice at the market close of the seventh (7th) trading day after the day on which the common VAT invoice should have been provided, the Exchange shall withhold five percent (5%) of the payment amount. As of the day immediately following the seventh (7th) trading day after the day on which the common VAT invoice should have been provided, the Exchange shall draw late fee from such withholding amount at the rate of zero point five thousandth (0.5‰) per day of the payment amount; the seller Member will be deemed as failure to provide common VAT invoice if it fails to provide the invoice within thirty (30) calendar days, in which case the withholding amount will not be returned to the seller Member.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Iron Ore shall be separately published by the Exchange.

During the course of iron ore futures trading, in case that war, social instability, natural disasters or other events are exerting, or are about to exert, significant impacts upon the imports of iron ore, the Chief Executive Officer of the Exchange may take emergency measures such as adjusting the opening and closing time of the market, suspending or terminating trading. Upon settlement on the relevant day when the trading is terminated, the Exchange may liquidate positions of all or part of the iron ore contract months based on the settlement price of the immediately preceding trading day.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules. Where the Detailed Rules stipulate otherwise on bonded standard warehouse receipt, such stipulations shall prevail.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY twenty (20) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall notify the designated delivery warehouse of the vehicle or vessel number, products, brand, manufacturer, quantity, arrival time and other information, and provide import documentation of the iron ores to the designated delivery warehouse three (3) calendar days prior to loading-in of the commodities, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The owner shall provide the following documents for directly imported iron ores:

certificate of analysis issued by the manufacturer which shall set out brand, quality, loading port, vessel name, bill of lading date, manufacturer, etc. and shall be signed by authorized person of the manufacturer, or a photocopy of such certificate of analysis; or certificate of analysis issued by the inspection agency that has conducted quality inspection of the commodities at shipment, which shall set out brand, quality, loading port, vessel name, bill of lading date, inspection agency etc. and shall be signed by authorized person of the inspection agency, or a photocopy of such certificate of analysis;

title certificate issued by the freight forwarder affixed with its business seal, which shall set out brand, manufacturer, quantity, vessel name, voyage number or date of arrival, bill of lading number, unloading warehouse, owner of commodities and others; and

other documents required by the Exchange.

The owner shall provide the following documents for iron ores processed at port:

certificate of analysis issued by the manufacturer which shall set out brand, quality, delivery order number, processing warehouse, manufacturer, etc. and shall be signed by authorized person of the manufacturer or affixed with the manufacturer's company seal, or a photocopy of such certificate of analysis;

title certificate issued by the freight forwarder affixed with its business seal, which shall set out brand, manufacturer, quantity, delivery order number, processing warehouse, owner of commodities and others; and

other documents required by the Exchange.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange for quality inspection of the loading-in commodities, unless the designated delivery warehouse has no issues on quality of the commodities.

Where the designated delivery warehouse engages a quality inspection agency, it shall notify the designated quality inspection agency of the method, quantity, date of delivery and other information after receiving the owner's loading-in notice, and the foregoing information shall be set out in the quality inspection agreement. The quality inspection agreement shall also provide for, among other things, day and night operation fees, method for the designated delivery warehouse to notify the designated quality inspection agency of the loading-in iron ores, quantity of commodities to be inspected, time of issuing the inspection report, and liability attributable to the designated quality inspection agency's failure to arrive at the site on time. The inspection fees shall be borne by the owner and delivered by the designated delivery warehouse.

Sampling of iron ore shall be made in the iron ore flows at the time of being loaded in and stacked in the warehouse.

The receiving and consigning weights of iron ore shall be subject to weighting by the designated delivery warehouse through measurement of wagon balance, rail weighbridge, water gauge or any other measurement method agreed by the buyer and the seller. The designated delivery warehouse shall, on the basis of the moisture test result of the iron ore issued by the quality inspection agency designated by the Exchange, calculate the weight by converting to dry basis equivalence which shall be the basis for issuing the standard warehouse receipt; for commodities exempted from loading-in inspection by the designated delivery warehouse, the warehouse shall calculate the weight by converting to dry basis equivalence based on the moisture specified in the certificate of analysis provided by the owner, and such result shall be the basis for issuing the standard warehouse receipt.

After completing the quality inspection of iron ore, the inspection agency designated by the Exchange shall issue one (1) original and three (3) duplicate inspection reports. The original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively delivered to the Exchange and the owner.

The designated delivery warehouse shall check the relevant materials and certificates regarding the brand, quality and quantity of the loaded-in iron ores subject to applicable provisions of the Exchange.

The designated delivery warehouse shall verify the brand of iron ores by checking the preserved delivery order, the recorded stack position and documents provided by the owner, and confirming with the manufacturer, customs, freight forwarder or shipping agent or other relevant parties of the trade flow. The warehouse may require the owner to provide guarantees for brand and quality of iron ores.

When applying for registration of standard warehouse receipt, the designated delivery warehouse shall submit relevant materials and certificates of the recognized iron ore brand to the Exchange through the electronic warehouse receipt system.

In addition to the documents provided by the owner under Article 28, the designated delivery warehouse shall further upload the following documents for directly imported iron ores:

delivery order issued by the shipping agent affixed with its business seal, which shall set out brand, quantity, vessel name, voyage number or date of arrival, bill of lading number, unloading warehouse and others; or a photocopy of such delivery order which is certified by the unloading warehouse to be consistent with the original, with "consistent with the original" written on it and affixed with business seal of the warehouse;

stack position statement issued by the unloading warehouse affixed with its business seal, which shall set out stack number, quantity, vessel name, voyage number or date of arrival, bill of lading number, freight forwarder, shipping agent and others; and

other documents required by the Exchange.

The designated delivery warehouse shall further upload the following documents for iron ores processed at port:

delivery order issued by the manufacturer with signature of its authorized person or affixation of its company seal, which shall set out brand, quantity, delivery order number, processing warehouse and other information; or a photocopy of such delivery order which is certified by the processing warehouse to be consistent with the original, with "consistent with the original" written on it and affixed with business seal of the warehouse;

stack position statement issued by the processing warehouse affixed with its business seal, which shall set out stack number, quantity, delivery order number, freight forwarder, shipping agent and other information; and

other documents required by the Exchange.

The standard warehouse receipts of iron ore shall be deregistered prior to the last trading day of each March and September.

Where the factory warehouse registers the standard warehouse receipts at the pick-up location that adopts the self-quoted premium and discount, it shall provide at least one pick-up location that adopts the fixed premium and discount as alternative. When participating in delivery with such standard warehouse receipts, the delivery payment shall be settled based on the delivery settlement price. The owner holding standard warehouse receipts shall confirm the pick-up place while submitting the deregistration application for standard warehouse receipts. The self-quoted or fixed premium or discount shall be settled between the owner and the factory warehouse on their own.

When the owner comes to pick up the commodities, the designated delivery warehouse shall provide relevant materials and certificates of the recognized iron ore brand to the owner. For directly imported iron ores, the designated delivery warehouse shall provide the documents specified under Article 35, paragraph 2 of the Detailed Rules. For iron ores processed at port, the designated delivery warehouse shall provide the documents specified under Article 35, paragraph 3 of the Detailed Rules. For domestically produced iron ores, the factory warehouse shall provide the following documents:

certificate of analysis issued by the manufacturer affixed with its company seal, which shall set out brand, quality, quantity, manufacturer and other information; and

other documents required by the Exchange.

If the owner has any objection on the iron ore brand, the owner may raise such objection prior to loading-out of the commodities and within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

When the iron ore is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after deregistration of the standard warehouse receipt.

When loading the iron ores out of the warehouse, the designated delivery warehouse shall provide the actual moisture test result made by it to the owner; if the warehouse engages an inspection agency for quality inspection of the loading-in iron ores, it shall provide the quality inspection report issued for registration of the warehouse receipt.

The designated delivery warehouse shall calculate the weight to be loaded out of the warehouse based on the actual moisture test result and the Iron Ore Delivery Quality Standards of Dalian Commodity Exchange (F/DCE I004-2021), and then have the sufficient weight loaded out.

The designated delivery warehouse may settle the quality premiums and/or discounts based on the certificate of analysis provided by the owner for the registration of the warehouse receipt; if the warehouse engages an inspection agency for quality inspection of the loading-in iron ores, it shall settle the quality premiums and/or discounts based on the quality inspection report issued for registration of the warehouse receipt. In case the warehouse and the client agree to draw samples and keep the samples, and neither of them has objection on quality of the iron ore within fifteen (15) calendar days after it has been loaded out of the warehouse, the warehouse shall settle the quality premiums and/or discounts based on the certificate of analysis provided by the owner for the registration of the warehouse receipt; if the warehouse engages an inspection agency for quality inspection of the loading-in iron ores, it shall settle the quality premiums and discounts based on the quality inspection report issued for registration of the warehouse receipt; if one party or both parties have objection on quality of the iron ore, the inspection result of such kept samples shall be the basis for settlement of quality premiums and/or discounts of the warehouse; if the warehouse engages an inspection agency for quality inspection of the loading-in iron ores, in case there is any difference between such sampling inspection result and the quality inspection report issued for registration of the warehouse receipt but within the error margin stipulated in the national standard, the quality inspection report issued for registration of the warehouse receipt shall prevail; if the warehouse does not engage an inspection agency for quality inspection of the loading-in iron ores, in case there is any difference between such sampling inspection result and the certificate of analysis provided by the owner for the registration of the warehouse receipt but within the error margin stipulated in the national standard, the certificate of analysis provided by the owner for the registration of the warehouse receipt shall prevail.

If the owner has objection on the actual moisture test result made by the designated delivery warehouse, it shall entrust a designated quality inspection agency to conduct inspection on site, and such inspection result shall be the basis for weight measurement of the iron ore being loaded out of the warehouse. The designated quality inspection agency shall be negotiated and determined by the owner and the designated delivery warehouse. If the negotiation fails, the Exchange shall designate the quality inspection agency. The inspection fee shall be borne by the owner.

In case the iron ore has not been loaded out of the warehouse, the owner shall firstly negotiate with the factory warehouse if there is any dispute about the quality inspection result of the coking coal. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts. The application for re-inspection shall indicate the name of the warehouse, stack location, quantity, quality index and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange. The re- inspection fees shall be advanced by the owner.

The owner may choose either of the following two methods to draw and keep samples:

to continue the loading-out process, and designate a quality inspection agency to draw samples from the ore flows and keep the samples; or

without loading-out, to designate a quality inspection agency to do sampling by opening the stack, shifting the stack or otherwise.

Both parties shall take the sampling inspection result as the basis for dispute settlement. If the warehouse engages an inspection agency for quality inspection of the loading-in iron ores and in case there is any difference between such sampling inspection result and the quality inspection report issued for registration of the warehouse receipt but within the error margin stipulated in the national standard, the sampling inspection result shall be deemed to be consistent with the quality inspection report presented by the designated delivery warehouse and the quality inspection report issued for registration of the warehouse receipt shall be used as the basis for dispute settlement. If the warehouse does not engage an inspection agency for quality inspection of the loading-in iron ores and in case there is any difference between such sampling inspection result and the certificate of analysis provided by the owner for the registration of the warehouse receipt but within the error margin stipulated in the national standard, the sampling inspection result shall be deemed to be consistent with the certificate of analysis provided by the owner and the certificate of analysis provided by the owner for the registration of the warehouse receipt shall be used as the basis for dispute settlement.

Related fees (including, but not limited to, the inspection fees and the travel expenses) and losses incurred thereby shall be borne by the owner if the inspection result of the sample is consistent with that produced by the designated delivery warehouse, otherwise the related fees and losses incurred thereby shall be borne by the designated delivery warehouse.

When the iron ore is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The factory warehouse shall have the commodities loaded out in accordance with the delivery quality standards specified in the contract and settle the quality premiums and/or discounts based on the certificate of analysis issued by the manufacturer or the inspection agency at the time of shipment; if the loaded-out commodities have been inspected by an inspection agency designated by the Exchange or that recognized by both of the buyer and seller, the factory warehouse shall settle the quality premiums and/or discounts based on the original quality inspection report issued by such inspection agency.

When the iron ore is loaded out of the factory warehouse, the factory warehouse shall draw samples under the owner's supervision, and the samples shall be sealed upon confirmation of both parties and shall be preserved for fifteen (15) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within five (5) working days following the consignment day, file in writing an application for re-inspection with the Exchange. Such application shall indicate the name of the factory warehouse, stack location (if any), quantity, the quality index and other information of the commodities to be re-inspected, leave the contact information, and be affixed with the owner's official seal. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sampling inspection result shall be the basis for any dispute settlement. In case there is any difference between such sampling inspection result and the inspection result presented by the factory warehouse but within the error margin stipulated in the national standard, the sampling inspection result shall be deemed to be consistent with the inspection result presented by the factory warehouse and shall be used as the basis for dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result of the sample is in conformity with the inspection result presented by the factory warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or other reasons, the owner shall pay late fee to the factory warehouse. The late fee is calculated as follows:

from the day when the owner starts to pick up the commodities (inclusive), the late fee for each day shall be product of the quantity of the commodities that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 0.1/Ton*Day within nineteen (19) calendar days (inclusive of the nineteenth calendar day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), and CNY 0.5/Ton*Day after this period.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse, and the factory warehouse shall nevertheless assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be calculated as follows:

from the expiration date of picking-up period (inclusive), the late fee for each day shall be product of the quantity of the commodities that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 0.1/Ton*Day within nineteen (19) calendar days (inclusive of the nineteenth calendar day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), and CNY 0.5/Ton*Day after this period.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 0.1/Ton*Day × Quantity of all the commodities × 19 Days.

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but completes the consignment of all the commodities on time, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which should have been consigned as per the required daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 48 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

the Exchange will provide to the owner the physical commodities of the same quality and quantity in other factory warehouses or other places and will bear all the costs and expenses arising out of or in connection with change of delivery site and the delayed consignment; or

where the Exchange fails to provide the abovementioned commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 120%

In the event of any default of the factory warehouse described in Article 48 or 49 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Bonded Standard Warehouse Receipt

Section I Generation of Bonded Standard Warehouse Receipt

Procedures for generation of bonded standard warehouse receipt shall be subject to the relevant provisions of the Exchange on standard warehouse receipt.

The standard warehouse receipt applied for registration by the bonded delivery warehouse shall clearly indicate whether the corresponding commodities are under the bonded status or duty-paid status, and the bonded delivery warehouse shall manage the commodities under different status separately.

When applying for registration of bonded standard warehouse receipt, the bonded delivery warehouse shall fill in the quality premiums/discounts and brand premiums/discounts.

Section II Circulation of Bonded Standard Warehouse Receipt

The bonded standard warehouse receipt of iron ore may be used for EFPs delivery, rolling delivery, one-off delivery, trading and transfer.

In addition to relevant provisions of the Detailed Rules, the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall also apply to EFPs delivery, rolling delivery and one-off delivery of the bonded standard warehouse receipt of iron ore.

The detailed procedures for trading of bonded standard warehouse receipt shall be separately prescribed by the Exchange.

Transfer of bonded standard warehouse receipt shall follow the transfer procedures of the Exchange, and the Exchange will handle the payment. The payment shall follow the provisions below:

the parties of the transaction shall submit transfer application to the Exchange through their Members, and such application shall contain the transfer price which shall be within the range of the limit price (after tax deduction) of the latest delivery month on the submission day of the transfer application, with bonded premiums /discounts excluded; the seller Member shall also submit to the Exchange the common VAT invoice when making the transfer application;

if the transfer application is submitted prior to the market close, the Exchange will process it on the then-current day; if the transfer application is submitted after the market close of the then-current day, the Exchange will process it on the following trading day;

prior to the submission of the transfer application, the buyer Member shall transfer full payment amount into the Exchange's special settlement account, and the seller Member shall deliver the corresponding quantity of the bonded standard warehouse receipt to the Exchange; the transfer payment is calculated as per the following formula:

Transfer payment = (transfer price + bonded premiums/discounts) × lots transferred × trading unit

Bonded premiums/discounts = (quality premiums/discounts + brand premiums/discounts + premiums/discounts of non-benchmark delivery warehouse compared with benchmark delivery warehouse) / (1 + import VAT rate) / (1 + import duty rate)

after the approval of transfer application by the Exchange, the Exchange shall deliver to the buyer Member the bonded standard warehouse receipt, and pay to the seller Member the transfer payment, except as otherwise prescribed by the Exchange.

Upon completion of transfer of the warehouse receipt and payment, the Exchange will issue a Bonded Delivery Settlement Statement (for taxation and accounting purpose only) to the seller and a Bonded Delivery Settlement Statement (for accounting purpose only) to the buyer as the certificate for tax declaration. In addition to the price information, the Bonded Delivery Settlement Statement shall contain, among other things, name of warehouse, actual quantity, delivery time, delivery method ("transfer" shall be noted in the delivery method), and the bonded premiums/discounts.

Section III Bonded EFPs

The bonded standard warehouse receipts for the EFPs (the "Bonded EFPs") mean that the parties to the trading which hold the contracts of the same delivery month are on consensus and submit an application to the Exchange; and after the approval of the Exchange, they close their respective futures positions at the price stipulated by the Exchange and exchange the payments and physicals of the corresponding quantities.

For the Bonded EFPs, only the EFPs of the bonded standard warehouse receipts are allowed.

The Exchange shall be responsible for handling delivery and receipt and payment of the Bonded EFPs, with the handling fees separately stipulated and announced by the Exchange.

Upon settlement on the approval day of the Bonded EFPs, the Exchange shall close the corresponding positions of the buyer and the seller as per the contract settlement price of the latest delivery month of the trading day immediately preceding the application day and have the profit and loss settled, and the Exchange shall also transfer relevant payment as per the Bonded EFPs delivery settlement price and the bonded premiums/discounts. After the end of each trading day, the Exchange shall publish the information related to the Bonded EFPs made on the then-current day.

The physicals seller Member shall deliver to the Exchange the common VAT invoice prior to the market close on the approval day of the Bonded EFPs. In case the physicals seller Member fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the approval day of the Bonded EFPs, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the physicals seller Member's payment after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 23 of the Detailed Rules.

After the market close on the approval day of the Bonded EFPs, the Exchange shall make payment of the Bonded EFPs to the physicals seller Member.

Payments of the Bonded EFPs = (delivery settlement price of the Bonded EFPs + bonded premiums/discounts) × Quantity of bonded warehouse receipts applied for EFPs × trading unit

Delivery settlement price of the Bonded EFPs = [(settlement price of the contract of the latest delivery month on the day immediately preceding the application day − relevant costs) / (1 + import VAT rate) − consumption tax] / (1 + import duty rate)

Bonded premiums/discounts = (quality premiums/discounts + brand premiums/discounts + premiums/discounts of non-benchmark delivery warehouse compared with benchmark delivery warehouse) / (1 + the import VAT rate) / (1 + import duty rate)

The "relevant costs" in paragraph 4 of this Article shall include the costs and expenses related to customs clearance, quarantine inspection and agency services of the importation and it shall be separately announced by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected as per quantity and the customs duty is collected as per price.

After the market close on the approval day of the Bonded EFPs, the Exchange shall deliver to the physicals buyer Member the standard warehouse receipt submitted by the physicals seller Member, and issue a Bonded Delivery Settlement Statement (for taxation and accounting purpose only) to the seller and a Bonded Delivery Settlement Statement (for accounting purpose only) to the buyer. In addition to the price information, the Bonded Delivery Settlement Statement shall contain, among other things, name of warehouse, actual quantity, delivery time, delivery method ("EFPs" shall be noted in the delivery method) and the bonded premiums/discounts.

Section IV Rolling Delivery of Bonded Standard Warehouse Receipt

The handover day shall be the second trading day following the matching day (exclusive) of the rolling delivery. Prior to the market close on the handover day, the Member of buyer must make the remaining payments corresponding to its matched delivery month contract positions and handle the delivery formalities. The Member of seller shall submit to the Exchange the common VAT invoice.

Payment of bonded standard warehouse receipts = (bonded delivery settlement price + bonded premiums/discounts) × Quantity of bonded standard warehouse receipts × trading unit

Bonded delivery settlement price = [(delivery settlement price − relevant costs) / (1 + import VAT rate) − consumption tax] / (1 + import duty rate)

Bonded premiums/premiums = (quality premiums/discounts + brand premiums/discounts + premiums/discounts of non-benchmark delivery warehouse compared with benchmark delivery warehouse) / (1 + import VAT rate) / (1 + import duty rate)

The Exchange shall publish the bonded delivery settlement price on the matching day for rolling delivery of the contract.

The "relevant costs" in paragraph 3 of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the importation and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected as per quantity and the customs duty is collected on the basis of their prices.

After the market close on the handover day, the Exchange shall deliver to the Member of buyer the bonded standard warehouse receipt submitted by the Member of seller, deliver to the Member of seller the payment of the bonded standard warehouse receipt, and shall issue a Bonded Delivery Settlement Statement (for taxation and accounting purpose only) to the seller and a Bonded Delivery Settlement Statement (for accounting purpose only) to the buyer. In addition to the price information, the Bonded Delivery Settlement Statement shall contain, among other things, name of the warehouse, actual quantity, delivery time, delivery method ("rolling delivery" shall be noted in the delivery method), and the bonded premiums/discounts.

If the Member of seller fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading day after the handover day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 23 of the Detailed Rules.

In case of any adjustment of the national taxation policy, the Exchange may adjust and shall promptly publish the calculation formula of the bonded delivery settlement price.

Section V One-off Delivery of Bonded Standard Warehouse Receipt

Prior to the market close of the first (1st) trading day following the last trading day, the seller Member shall deliver to the Exchange all the standard warehouse receipts (including bonded standard warehouse receipts) corresponding to its positions of the contracts of the delivery month; and after the market close of the first (1st) trading day following the last trading day, the Exchange shall publish the delivery products and quantity of standard warehouse receipts (including bonded standard warehouse receipt) of any and all delivery warehouses.

Prior to the market close of the second (2nd) trading day following the last trading day, the buyer may submit a delivery intention declaration based on the information announced by the Exchange. After the market close of the second (2nd) trading day following the last trading day, the Exchange shall match the standard warehouse receipts (including bonded standard warehouse receipt) with the buyer pursuant to the relevant rules of the Measures for Delivery Management of Dalian Commodity Exchange.

Prior to the market close of the last delivery day, the buyer Member shall pay the balance corresponding to its positions of the contracts of the delivery month. The seller Member shall submit to the Exchange the common VAT invoice.

Payment of bonded standard warehouse receipts = (bonded delivery settlement price + Bonded premiums/discounts) × Quantity of bonded standard warehouse receipts × trading unit

Bonded delivery settlement price = [(delivery settlement price - relevant costs) / (1 + import VAT rate) - consumption tax] / (1 + import duty rate);

Bonded premiums/discounts = (quality premiums/discounts + brand premiums/discounts + premiums/discounts of the non-benchmark delivery warehouse compared with benchmark delivery warehouse) / (1 + import VAT rate) / (1 + import duty rate)

The Exchange shall publish the bonded delivery settlement price on the last trading day of the contract.

The "relevant costs" in paragraph 5 of this Article shall include the costs and expenses related to customs clearance, quarantine inspection and agency services of the importation and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected as per quantity and the customs duty is collected as per price.

After the market close on the last delivery day, the Exchange shall deliver to the buyer Member the bonded standard warehouse receipt submitted by the seller Member, deliver to the seller Member the payment of the bonded standard warehouse receipt, and shall issue a Bonded Delivery Settlement Statement (for taxation and accounting purpose only) to the seller and a Bonded Delivery Settlement Statement (for accounting purpose only) to the buyer. In addition to the price information, the Bonded Delivery Settlement Statement shall contain, among other things, name of warehouse, actual quantity, delivery time, delivery method ("one-off delivery" shall be noted in the delivery method), and the bonded premiums/discounts.

If the seller Member fails to deliver the common VAT invoice prior to the market close of the seventh (7th) trading days after the last delivery day, the Exchange shall withhold the corresponding amount equal to five percent (5%) of the seller's payments after the market close on the then-current day, and collect the late fees from or confiscate such withholding amount in accordance with Article 23 of the Detailed Rules.

In case of any adjustment of the national taxation policy, the Exchange may adjust and shall promptly publish the calculation formula of the bonded delivery settlement price.

Section VI Bonded Standard Warehouse Receipt of Iron Ore Used as Margins and OTC Pledge

The bonded standard warehouse receipt may be used as margins upon approval of the Exchange.

Where the bonded standard warehouse receipt is used as margins, at the time of daily settlement, the Exchange will take settlement price (after tax deduction) of the futures contracts of the latest delivery month of the product under such standard warehouse receipt on the then-current day as the benchmark price to calculate its market value. Before the market close on the then-current day, the settlement price (after tax deduction) of the futures contracts of the latest delivery month of the product under such bonded standard warehouse receipt on the previous trading day shall be taken as the benchmark price to calculate its market value.

Benchmark price of the bonded standard warehouse receipt when used as margins before the market close = [(settlement price of the futures contracts of the latest delivery month of the product on the previous trading day − relevant costs) / (1 + import VAT rate) − consumption tax] / (1 + import duty rate); benchmark price of the bonded standard warehouse receipt when used as margins at the settlement = [(settlement price of the futures contracts of the latest delivery month of the products on the then-current day − relevant costs) / (1 + import VAT rate) − Consumption tax] / (1 + import duty rate).

In addition to paragraphs 1 to 3 of this Article, other specific procedures for using the bonded standard warehouse receipt as margins shall be subject to the applicable provisions of the Measures for Clearing Management of Dalian Commodity Exchange.

The "relevant costs" in paragraph 3 of this Article shall include the costs and expenses related to customs clearance, quarantine inspection and agency services of the importation and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected as per quantity and the customs duty is collected as per price.

The specific procedures for OTC pledge of the bonded standard warehouse receipt shall be subject to the regulatory provisions of the local customs for bonded delivery of iron ore and the applicable provisions of the Exchange.

Section VII Deregistration of Bonded Standard Warehouse Receipt

The deregistration procedures and general requirements of bonded standard warehouse receipt shall be subject to the Measures for the Standard Warehouse Receipt Management of Dalian Commodity Exchange, in additional to provisions of this Section.

Where the bonded standard warehouse receipt holder needs to conduct import customs clearance or transshipment exit, it shall notify the Exchange of such situation when deregistering the bonded standard warehouse receipt, and then conduct the import customs clearance or transshipment exit according to regulations of the local customs.

After the owner completes the pickup formalities, the bonded standard warehouse shall issue a bonded warehouse receipt list to the owner. The Exchange will then issue a Bonded Delivery Settlement Statement (for customs clearance purpose only) to the owner and simultaneously send the information related to such Bonded Delivery Settlement Statement to the corresponding customs through the electronic warehouse receipt system. The information will be deemed served once it is sent out.

The owner shall take the Bonded Delivery Settlement Statement (for customs clearance purpose only) to conduct import customs clearance with the local customs within ten (10) working days (inclusive of the tenth working day) following issuance of such statement. The name, quantity, price and other basic information of the commodities for clearance shall be consistent with such Bonded Delivery Settlement Statement and the bonded standard warehouse receipt list held by the owner.

If the deregistered bonded standard warehouse receipt is obtained by way of trading or other non-futures delivery methods, the Exchange shall not issue the Bonded Delivery Settlement Statement (for customs clearance purpose only).

When conducting import customs clearance, the owner shall make declaration to the customs as per the delivery settlement price stated in the Bonded Delivery Settlement Statement (for customs clearance purpose only) plus the bonded premiums/discounts, for the customs to determine the duty-paid price of the iron ore, and shall pay the duty as per the applicable provisions of the customs.

Chapter V Brand Dispute

If the buyer has objection on the iron ore brand and raises such objection to the Exchange, the buyer shall submit written application to the Exchange, which shall specify the reasons to question the brand, including:

problem on documentation;

problem on qualities of the commodities;

problem on form, color and other aspects of the commodities; and

other reasons.

The dispute fee shall be advanced by the owner. The dispute fee shall be borne by the buyer if the Exchange determines the iron ore brand is authentic, otherwise it shall be borne by the designated delivery warehouse. The standard of dispute fee will be promulgated by the Exchange separately.

Within ten (10) trading days from the day of accepting the dispute, the Exchange will determine on authenticity of the brand according to the investigation result of the iron ore brand investigation group. The rules on member selection, investigation procedure, supervision and management and others of the iron ore brand investigation group will be prescribed by the Exchange separately.

For delivery under standard warehouse receipt, the seller shall continue loading out if the Exchange determines that the iron ore brand is authentic; the designated delivery warehouse may negotiate with the buyer to solve the problem if the Exchange determines that the iron ore brand is fake. If the negotiation fails, the designated delivery warehouse shall replace the commodities in dispute with those fulfilling the requirements under the contract for the buyer within fifteen (15) calendar days following receipt of the Exchange's ruling on authenticity of the iron ore brand, and shall bear the relevant losses. If the designated delivery warehouse fails to replace the commodities on time, it shall indemnify all losses suffered by the buyer.

Chapter VI Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Iron Ore Delivery Quality Standards of Dalian Commodity Exchange (F/DCE I004-2021) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Iron Ore of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

12. Detailed Rules of Egg Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Egg Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Egg Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of egg futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated FOT delivery site, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The quality standards for and the quality discounts and/or premiums of standard deliverable products and substitutes under the egg futures contract are detailed in the Egg Delivery Quality Standards of Dalian Commodity Exchange (F/DCE JD003-2020) as Annex 1 attached hereto.

The egg futures contract shall take the form of physical delivery.

The delivery warehouses designated for eggs shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses.

The designated FOT delivery sites for eggs shall be divided into the FOT delivery sites with the factory warehouse qualification and other FOT delivery sites.

The designated delivery warehouses and FOT delivery sites for eggs and the relevant discount and/or premium shall be determined by the Exchange. (detailed in the List of Delivery Warehouses and FOT Delivery Sites Designated for Egg of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the egg futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the egg futures contract is 5 MT/ Lot.

The price quote unit of the egg futures contract is CNY/500KG.

The tick size of the egg futures contract is 1 CNY/500KG.

The maximum quantity of orders placed each time for the egg futures contract shall be three hundred (300) lots.

The standard of trading margins, price limit range and position limit under the egg futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the egg futures contract is the last but three trading day of the contract month.

The last delivery day of the egg futures contract is the third trading day after the last trading day.

The ticker symbol of the egg futures contract is JD.

Chapter III Delivery and Clearing

Section I General Provisions

The egg futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery.

The EFPs for egg futures contract shall only be applied through physicals other than standard warehouse receipts.

The rolling delivery may be carried out through the standard warehouse receipt delivery and FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFPs delivery, rolling delivery and one-off delivery of the eggs, the specific processes shall be subject to the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.

For those participating in the rolling delivery, if the standard warehouse receipt delivery is adopted, among them, for those applying for delivery by the standard warehouse receipt of storage warehouse, the trading margins corresponding to their selling positions shall not be refunded. After the market close of the matching day, the trading margins which match the selling positions shall be transformed to be the delivery margins; for those applying for delivery by standard factory warehouse receipt, the trading margins corresponding to the selling positions shall be refunded.

If the FOT delivery is adopted, and the seller's client applies for the delivery at the FOT delivery site with the factory warehouse qualification, such application shall be confirmed by the FOT delivery site; if the seller's client applies for the delivery at other FOT delivery sites, the seller's client shall have the FOT delivery qualification.

When participating in the one-off delivery, the delivery margins of the seller Member shall not be refunded after the standard warehouse receipts of storage warehouse are delivered to the Exchange.

The delivery settlement price of one-off delivery shall be the weighted average price of all trade prices of the futures contract in the last ten (10) trading days of the delivery month; in case the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof.

The price of the egg packaging (including cartons and egg trays) is not included in the egg contract price. The price and requirements of packaging shall be separately stipulated and published by the Exchange, and may be adjusted by the Exchange according to the market condition. For standard warehouse receipt delivery, the buyer and the designated delivery warehouse may negotiate the price and requirements of packaging; for FOT Delivery, the buyer and the seller may negotiate the price and requirements of packaging. If there is a consensus, the difference between the negotiated packaging payment and the packaging payment settled by the Exchange shall be settled by the relevant parties respectively, and if the requirements of packaging are negotiated separately, the corresponding eggs shall not be inspected; if the negotiation fails, it shall be handled subject to the provisions of the Exchange.

With respect to the egg futures contract, the delivery payment shall be settled on the basis of the delivery settlement price plus the discount and/or premium of the non-benchmark delivery warehouse against the benchmark delivery warehouse, or the discount and/or premium of the designated FOT delivery site, and the packaging price.

The egg futures contract delivery unit shall be five (5) tons.

The standard warehouse receipt of the egg shall be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The standard warehouse receipt of egg is not allowed to trade, transfer or treat as margin.

After the standard warehouse receipt of storage warehouse of the egg is delivered to the Exchange, the trading margins of the selling positions of the latest delivery month which is of the amount equal to such receipts will be collected upon settlement.

The batch grouping with respect to the egg quality inspection in the same batch shall be five (5) tons.

The eggs in the same batch shall be packed with the uniform weight packaging. If they are packed with packaging of different weights, the weight of the goods is calculated according to the average weight of the three heaviest packaging pieces sampled by the designated quality inspection agency.

During the holidays specified by the State Council (including adjusted working days and consecutive holidays) and the weekends immediately before and after such holidays, the designated delivery warehouses and designated FOT delivery sites shall suspend handover of the goods, and the corresponding handover date shall be postponed accordingly. Relevant business on other weekends shall stay normal.

In case of the standard warehouse receipt delivery, the differences of the egg futures contract discounts and/or premiums shall be settled between the owner and the designated delivery warehouse. In case of FOT delivery, the differences of the egg futures contract discounts and/or premiums shall be settled between the buyer and the seller on site.

The common VAT invoice shall be issued for delivery of eggs.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Egg shall be separately published by the Exchange.

During the course of egg futures trading, when there occurs a major epidemic and a certain portion of the designated delivery warehouses are located in the epidemic zone, the Chief Executive Officer of the Exchange may take emergency measures such as suspending or terminating trading. Upon settlement on the relevant day when the trading is terminated, the Exchange may liquidate positions of all or part of the eggs contract months based on the settlement price of the immediately preceding trading day.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The eggs of the brand(s) recommended by the Exchange may be exempted from the quality inspection when loaded in the warehouse in case of satisfaction with the required conditions. The enterprise qualifications, the exemption conditions and the lists of the recommended egg brands shall be published by the Exchange separately.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, three (3) calendar days prior to loading the commodities in the warehouse, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse.

The owner shall notify, three (3) calendar days prior to the loading-in, to the designated delivery warehouse the method of delivery, the quantity of delivery and the date of delivery. The designated delivery warehouse shall notify, after its receipt of the owner's notice of loading-in, to the designated quality inspection agency the aforesaid information which shall be clearly described in the quality inspection agreement. In addition, the quality inspection agreement shall provide for, among other things, the inspection costs, the day and night operation fees, the time of issuing the inspection report, and the liability arising out of or in connection with the incurred losses for any reason attributable to the designated quality inspection agency's failure to timely appear at the site. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

With respect to eggs to be loaded in the storage warehouse, the earliest sampling date shall be the first trading day of the delivery month; and the sampling shall be carried out during the unloading outside the constant temperature warehouse.

The receiving and consigning weights of eggs shall be subject to the weighting by the designated delivery warehouse. The designated delivery warehouse shall weigh each box of eggs sampled by the designated quality inspection agency, take the gross weight and packaging weight respectively, and calculate the goods weight according to the following formula:

Goods weight = (total gross weight of sampled eggs / number of boxes sampled – average weight of the three heaviest packaging pieces) * number of boxes of goods

The eggs shall be loaded in the warehouse in full box, and the difference between the weight of being loaded in the warehouse and the actual delivery weight shall be no more than ± twenty (20) kilograms. Any insufficiency or excess shall be settled between the designated delivery warehouse and the owner as follows: for those loaded in the warehouse prior to the market close of the last trading day, settlement shall be made on the basis of the settlement price of the trading day immediately preceding the day of loading-in with respect to the egg contract of the delivery month; and for those loaded in the warehouse after the market close of the last trading day, settlement shall be made on the basis of the delivery settlement price of the egg contract of the delivery month.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the egg which has been loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

The owner shall provide to the storage warehouse the certificate of origin or proof of purchase and quality certificate of the egg which has been loaded in the storage warehouse, and the storage warehouse shall keep them for future check. If the aforesaid documents cannot be provided, the standard warehouse receipt of storage warehouse shall not be registered.

The earliest date of the application for registration of standard warehouse receipt of the eggs shall be the first trading day of the delivery month. The period of the warehouse receipt registration day from the inspection report issuance day shall not exceed two (2) trading days.

For the standard warehouse receipt registered before the market close on the trading day immediately preceding the last trading day, the seller may use the standard warehouse receipt to participate in the rolling delivery, and shall declare the delivery on the warehouse receipt registration day or before the market close on the first trading day after the warehouse receipt registration day. If the delivery is matched successfully, the corresponding standard warehouse receipt shall be immediately deregistered after the market close on the handover day and within the then-current day after the Exchange transfers the standard warehouse receipt delivered by the seller to the corresponding matched buyer. If the seller fails to participate in the rolling delivery or if the delivery is declared but does not conform to the delivery matching condition, the corresponding standard warehouse receipt shall be deregistered after the market close on the first trading day following the warehouse receipt registration day and within the then-current day.

For the standard warehouse receipt registered after the market close on the trading day immediately preceding the final trading day, the seller may use the standard warehouse receipt to participate in the one-off delivery, and all standard warehouse receipts shall be deregistered after the market close on the last delivery day and within the then-current day.

After the relevant commodities of a standard warehouse receipt of the eggs are transformed into physicals, the re-generation of the standard warehouse receipt are not allowed.

When the egg is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters one (1) calendar day prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within two (2) trading days (inclusive of the second trading day) after the deregistration of the standard warehouse receipt.

Any loading of the eggs out of the warehouse shall be in full box; and upon the egg being loaded out of the warehouse, the designated delivery warehouse shall produce to the owner the quality inspection report upon registration of the warehouse receipt, based on which the quality premiums and discounts shall be settled between the designated delivery warehouse and the clients.

Any loss in weight of the eggs during the period as of the day of egg loading-in the warehouse through the handover day shall be borne by the seller client, and the daily weight loss percentage of the eggs shall be published by the Exchange separately.

The egg weight loss shall be debited to the delivery warehouse on behalf of the buyer client when loaded in the warehouse and shall be forwarded to the buyer client upon being loaded out of the warehouse. The make-up of the egg weight loss may be made through the cash settlement or the provision of the eggs of the same batch as the delivery products. For settlement by cash, upon the loading thereof out of the warehouse, the designated delivery warehouse shall carry out settlement with the buyer as follows, and shall forward to the buyer the prices of the portions to which the weight loss occurs and the appropriate common VAT invoice in the meantime: in case the warehouse receipt is registered prior to the market close of the last trading day, settlement shall be made on the basis of the settlement price of the trading day immediately preceding the day of the warehouse receipt registration date with respect to the egg contract of the delivery month; and in case the warehouse receipt is registered after the market close of the last trading day, settlement shall be made on the basis of the delivery settlement price of the egg contract of the delivery month.

With respect to the product of the egg, in case storage warehouse delivery is adopted and the buyer client has no objection to the quality of the egg prior to the market close of the fourth (4) trading day following the handover day, the Exchange shall, after the market close of the fourth (4th) trading day following the handover day, refund the delivery margins to the seller Member and pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice.

In case the buyer client has any objection to the quality of a certain batch of eggs of a certain warehouse prior to the market close of the fourth (4th) trading day following the handover day provided, however, that the eggs have not been loaded out of the warehouse, it shall apply for re-inspection of such batch of eggs and state to the Exchange in writing the quality indexes to be re-inspected; and the quantities to be re-inspected due to the quality dispute shall be proposed in integral multiple of the delivery unit. The payment of the objected goods of its matched seller in such delivery warehouse shall be suspended. The on-site inspection shall be carried out by the designated quality inspection agency chosen by the Exchange, any and all costs and expenses arising out of or in connection with the re-inspection (including, but not limited to, the inspection charges and the travel expenses) shall be prepaid by the buyer. The eggs sampled for re-inspection shall be transported in constant temperature of 0 to 5℃ from being loaded out of the warehouse through being delivered at the quality inspection agency, otherwise the re-inspection result shall be invalid.

The Exchange shall announce the re-inspection result before the market close on the seventh (7) trading day after the handover day. If the re-inspection result is conforming, the Exchange shall, after the market close on the seventh (7) trading day following the handover day, refund the delivery margin to the seller Member, make eighty percent (80%) of the payments of that part to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice, and the relevant re-inspection costs shall be borne by the buyer. If the re-inspected sanitary indicators are nonconforming according to the provisions in Clause 4.3 of Egg Delivery Quality Standard, the delivery shall be terminated, and the Exchange shall, after the market close on the seventh (7) trading day following the handover day, pay the delivery margin of 20% of the contract value of such eggs to the seller, and the goods corresponding to that part shall be returned to the seller, the payments shall be refunded to the buyer Member, and any and all costs and expenses thereof (including, but not limited to, the inspection charges and the travel expenses) and losses shall be borne by the seller. If the sanitary indicators are conforming, but only the sensory requirements, egg weight and fresh degree etc. are nonconforming, the Exchange shall refund the delivery margin to the seller Member after the market close on the seventh trading day following the handover day, and 80% of the payments of that part shall be paid to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice, and any and all costs and expenses thereof (including, but not limited to, the inspection charges and the travel expenses) and losses shall be borne by the designated delivery warehouse.

The seller Member shall provide the common VAT invoice corresponding to the actually delivered goods to the buyer Member within seven (7) trading days after the Exchange pays eighty percent (80%) of the payments.

When the eggs are loaded out of the factory warehouse, the factory warehouse and the owner shall consign and pick up the commodities in accordance with the schedule determined by the Exchange.

The Exchange shall prepare the consignment and pick-up plan of each factory warehouse based on the following principles and methods, confirm the corresponding sequence, date and quantity, and inform the relevant Members and factory warehouses on the day when the standard warehouse receipts are deregistered:

in the same deregistration month, the consignment for standard warehouse receipts deregistered through delivery and transfer shall be prioritized over those deregistered without delivery and transfer. For standard warehouse receipts deregistered through delivery and transfer, the sequence of consignment and pick-up shall be determined according to the order of deregistration dates of standard warehouse receipts. If the standard warehouse receipts are deregistered on the same day, the pick-up order shall be determined by: the priority shall be given to the owner who takes the corresponding factory warehouse as the delivery intent, and the first intent shall be prioritized over the second intent; then the priority shall be given to the owner with a longer average holding time of all matched positions; and then the priority shall be given to the owner with the earliest position establishment time among all matched positions. For standard warehouse receipts that are deregistered without delivery and transfer, the sequence of consignment and pick-up shall be determined according to the time sequence of the deregistration of the standard warehouse receipts. If the standard warehouse receipts are deregistered at the same time, the priority shall be given to the owner with an earlier registration time of the standard warehouse receipt.

the dates of consignment and pick-up shall start from the second calendar day after the deregistration day of the standard warehouse receipt. After finishing the consignment to the owner in the preceding order in accordance with the daily consignment speed of factory warehouses published by the Exchange and the sequence determined by the Item (1), the delivery shall be arranged to the subsequent owners.

With the agreement of both parties, the factory warehouse and the owner can separately determine the consignment time and speed instead of following the relevant regulations in the Detailed Rules. However, such agreement shall not affect other owners to pick up the commodities according to the schedule as determined by the Exchange. The factory warehouse and the owner shall confirm in a written form and keep the documents properly for future inspection.

Prior to 13:30 on the consignment date, the owner shall arrange for the transportation vehicle that matches the pick-up quantity for that day as determined by the Exchange to arrive on site, otherwise the owner is deemed to have no objection to the quality of the unmatched delivery commodities.

The factory warehouse shall provide, upon having the goods loaded out of the warehouse, to the owner the original quality inspection report issued by the factory with respect to such goods which shall be used as the basis of settlement of the quality premiums and discounts.

Eggs delivered by the factory warehouse shall have the certificate of origin or proof of purchase and quality certificate, which shall be kept by the factory warehouse for future check. Eggs without the certificate of origin or proof of purchase and quality certificate shall not be delivered.

When the eggs are loaded out of the factory warehouse, no sampling will be carried out or reserved by the factory warehouse.

In the case factory warehouse delivery is adopted, the Exchange shall, after the market close of the handover day, pay eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice; if the buyer client has any objection to the quality of the egg delivered at the factory warehouse, the handling shall be made in accordance with Article 54 of the Detailed Rules.

The seller Member shall provide the common VAT invoice corresponding to the actually delivered goods to the buyer Member within seven (7) trading days after the matching day.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities as per the daily consignment quantity of the factory warehouse due to its transportation capability or any other reason attributable to the owner, or the owner fails to pick up the commodities on the specified pickup date, for the eggs that shall be picked up but fail to be picked up based on the daily consignment quantity of the factory warehouse, the factory warehouse shall no longer bear the quality liabilities according to the futures standard, and the owner shall bear the corresponding weight loss of eggs in weight loss ratio of 0.5% per day (1% for contracts from June to September) for the actual days when the eggs are not picked up, and such weight loss shall be deducted from the weight of eggs loaded out of the factory warehouse. The factory warehouse shall take the responsibility of consignment time and speed according to the futures standard, and the owner's daily pickup quantity shall first make up the quantity that should have been but have not been picked up. If the owner fails to pick up the corresponding eggs for three (3) consecutive calendar days (such third calendar day being the closing day), the factory warehouse shall dispose of the eggs that should have been but have not been picked up and pay the corresponding price to the owner, including eighty percent (80%) of the contract value calculated based on the lower price between the delivery settlement price and the then-current settlement price of the latest month contract of the day after the closing day (if such day is not a trading day, the previous trading day shall be taken), the discount and/or premium of the non-benchmark delivery warehouse against the benchmark delivery warehouse in full amount as well as the packaging price. If the owner and the factory warehouse have other agreements on the weight loss, consignment period and consignment speed, such agreement shall prevail.

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation of the products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily load out speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 50 of the Detailed Rules, compensate the owner, the amount of such compensation for products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment.

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = (One-off delivery settlement price of the last delivery month of such commodity × 120% + discount and/or premium of the non-benchmark delivery warehouse against the benchmark delivery warehouse + packaging price) × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities

In the event of any violation by the factory warehouse described in Article 50 or 51 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

If the factory warehouse fails to commence consignment subject to the stipulated daily consignment speed due to the quality dispute of the eggs loaded out of the factory warehouse, it shall be handled subject to Article 54 of the Detailed Rules.

When the eggs are being loaded out of the factory warehouse, if the owner has any objection over the quality of the eggs, negotiations shall be firstly made between the owner and the factory warehouse. If the negotiation fails, the owner shall file an application to the Exchange for re-inspection in the prescribed manner under the circumstance that the commodities have been delivered but have not been loaded out of the factory warehouse on the then-current consignment day. The owner can only apply for re-inspection once for the eggs in the same inspection batch. The Exchange shall engage a designated quality inspection agency to carry out the re-inspection, and the re-inspection result shall be the basis for any dispute settlement. If no re-inspection application is filed in the prescribed manner within the prescribed period, it shall be deemed that there is no objection over the quality of the eggs. The re-inspection costs shall be paid in advance by the owner to the designated quality inspection agency engaged by the Exchange before 12:00 of the first calendar day after the date of the re-inspection application. If the advance payment is not completed within the prescribed period, it shall be deemed that there is no objection to the quality of the eggs loaded out of the factory warehouse. If the re-inspection results support the re-inspection application of the owner, the factory warehouse shall bear relevant expenses incurred therefrom (inspection fees, travel expenses, etc.) and pay demurrage fees to the owner. The demurrage fees shall be calculated with the rate of CNY100/ton*day from the date of application for re-inspection (exclusive of the then-current day) to the date of issuance of the re-inspection results (inclusive of the then-current day), and the eggs shall be loaded out of the factory warehouse in full amount. If the re-inspection results do not support the re-inspection application of the owner, the owner shall bear relevant expenses incurred therefrom (inspection fees, travel expenses and etc.) and bear any loss incurred from the date of application for re-inspection (exclusive of the then-current day) to the date of issuance of the re-inspection results (inclusive of the then-current day). For June to September contracts, the daily loss shall be calculated at 1% of the eggs weight, and for contracts of other months, it shall be calculated at 0.5%, Such loss shall be deducted from the weight of eggs loaded out of the factory warehouse. In the re-inspection results of the factory warehouse dispute, the Haugh unit ≥65 is in compliance with the loading out standard of the index. If the re-inspection results meet the quality requirements for loading out from the factory warehouse, the factory warehouse shall, from the day following the date of issuance of the re-inspection results, normally consigns the goods and pay the corresponding discount to the owner according to the re-inspection results. The owner shall normally pick up the goods and shall not refuse to accept the goods, otherwise Article 49 herein and other relevant provisions shall apply. If the re-inspection results do not meet the quality requirements for loading out from the factory warehouse, the factory warehouse and the owner shall firstly negotiate for settlement. If negotiation fails, the factory warehouse shall pay the delivery payments to the owner and bear the compensation liabilities, amount of refunded payment of commodities and compensation = (One-off delivery settlement price of the last delivery month of such commodity × 120% + discount and/or premium of the non-benchmark delivery warehouse against the benchmark delivery warehouse + packaging price) × Quantity of the re-inspected eggs that fails to meet the delivery requirements, and the corresponding goods shall be owned by the factory warehouse.

With respect to the aforesaid disputed delivery goods, the factory warehouse and the owner shall cooperate with each other and properly keep the relevant goods.

Where there is any quality dispute when the eggs are being loaded out of the factory warehouse, and the designated quality inspection agency is unable to conduct on-site inspection due to the force majeure, the Exchange may, as the case may be, engage the designated quality inspection agency to conduct the sampling of eggs and the inspection on indicators of sensory requirement and weight grade of the eggs by remote video or through other means recognized by the Exchange. For the inspection of Haugh unit and sanitary indicators, the designated delivery warehouse shall transport the samples to the site	designated by the Exchange for inspection by the designated quality inspection agency, and the transportation fees incurred therefrom shall be handled as the fee related to the quality dispute. Where the designated delivery warehouse and the owner have agreed otherwise, it shall be handled according to their agreement.

Section III FOT Delivery

The applicant for the designated FOT delivery site shall meet the following conditions:

enterprise legal person with the business license issued by the administration for industry and commerce;

the net assets reaching the amount stipulated by the Exchange;

having good financial conditions and strong risk resistance ability;

having good commercial reputation, having no record of serious violation of laws or record of disqualification for designated FOT delivery site or designated delivery warehouse;

undertaking to comply with the rules of the Exchange;

having a goods delivery site with certain scale, good measuring facilities and good transportation conditions; and

other conditions stipulated by the Exchange.

After meeting the conditions above and after becoming a designated FOT delivery site upon recognition by the Exchange, the designated FOT delivery site shall sign corresponding agreement with the Exchange to make the rights and obligations of both parties, so as to regulate relevant business behaviors.

The Exchange shall supervise, inspect and manage the FOT delivery site according to the Detailed Rules hereof, relevant rules and agreements.

In case of any of the following circumstances happened to the designated FOT delivery site, the Exchange is entitled to cancel its qualification for the designated FOT delivery site:

it actively waives the qualification for designated FOT delivery site;

it has the behaviors of rule violation and breach of contract in the FOT delivery; or

other situations affirmed by the Exchange.

If the seller applies for delivery at FOT delivery sites with the factory warehouse qualification, the seller shall purchase from such sites the eggs used for FOT delivery. At the time of FOT delivery, the seller may entrust such FOT delivery sites to perform the delivery of the eggs and other relevant obligations on behalf of the seller. If the FOT delivery sites fail to perform such obligations or perform such obligations in violation of relevant provisions, the seller shall bear the corresponding liabilities.

The seller client applying for the delivery at other FOT delivery sites shall obtain the FOT delivery qualification first. When applying for the FOT delivery qualification, it is required to submit the following materials to the Exchange through the Member:

application form;

copy of duplicate copy of business license with the company's official seal;

recommendation letter provided by one (1) designated FOT delivery site or designated delivery warehouse, or the recommendation letters provided by two (2) clients with FOT delivery qualification; and

other materials required by the Exchange.

The Exchange shall review the complete application materials within three (3) trading days after receiving them, and shall notify the Member of the application result, who shall then notify the client.

If the seller client fails to provide necessary goods information and materials, settle relevant payments as required by the Exchange or has other rule violations or contractual breaches such as the violations of national laws and regulations on food safety or the relevant requirements for egg futures delivery in the FOT delivery, the Exchange shall have the right to suspend or cancel its FOT delivery qualification.

In case of any of the following circumstances happened to the designated FOT delivery site or designated delivery warehouse, the Exchange may suspend or cancel its qualification of providing recommendation letter to the seller applying for FOT delivery qualification:

it has its futures delivery suspended by the Exchange;

the client recommended by it has committed rule violation and breach of contract in FOT delivery; or

other situations affirmed by the Exchange.

If the client with FOT delivery qualification has the situations in items 2 and 3 above, the Exchange may suspend or cancel its qualification of providing recommendation letter to the seller applying for FOT delivery qualification.

The maximum deliverable amount every day on each designated FOT delivery site, and the delivery amount applied for by a client on a designated FOT delivery site shall be published by the Exchange separately.

Except for the handling upon negotiation between the buyer and the seller, both the buyer and the seller shall deliver the goods on the second calendar day after the handover day (i.e. FOT Delivery Date).

Prior to 13:30 on the FOT Delivery Date, the seller client shall transport the goods to the designated FOT delivery site, and the buyer client shall arrange for the transportation vehicle to arrive on site that matches the quantity of goods to be delivered. If the seller client fails to transport the goods to the FOT delivery site timely, Article 75 herein shall apply. If the buyer client does not arrange for the transportation vehicle to arrive on site that matches the quantity of goods to be delivered, it shall be deemed that the buyer client has no objection to the quality of the unmatched delivery goods.

During FOT delivery, the seller shall load the goods to the buyer's truck board at the designated FOT delivery site, and if the goods have not started to be loaded to the buyer's truck board at 13:30 for the reason of the buyer, the seller may store the goods in the designated place of the designated FOT delivery site. When the goods are loaded to the buyer's truck board or stored in the designated place of the designated FOT delivery site, it shall be deemed that the delivery is completed and the goods ownership is transferred. The handling fee incurred shall be borne by the seller; and all expenses (including handling fee and custody fee) incurred consequently shall be borne by the buyer.

The eggs used for FOT delivery shall have the certificate of origin or proof of purchase and quality certificate. When delivered on FOT delivery sites with the factory warehouse qualification, the aforesaid documents shall be provided by the FOT delivery sites and kept for future check; when delivered on other FOT delivery sites, the aforesaid documents shall be provided by the seller and kept by the FOT delivery sites for future check. Eggs without the certificate of origin or proof of purchase and quality certificate shall not be delivered.

The quality inspection agency engaged by the Exchange shall inspect the eggs on site. The sampling of the eggs shall be carried out during the unloading. The loss caused by the inspection of the eggs shall be borne by the seller.

In a batch of inspection of eggs, after completing the inspection of indicators other than the Haugh unit, the buyer may choose to visually select half of the samples for the Haugh unit inspection, with the remaining samples as alternatives. If both the buyer and the seller agree on the Haugh unit of that batch of inspection of eggs, the inspection results for the Haugh unit of the self-selected samples shall be used as the basis for handling. If the buyer and the seller do not reach an agreement on the inspection results for the Haugh unit of that batch of inspection of eggs, both parties have the right to choose to continue inspecting the alternative samples, the inspection results for all samples shall be used as the basis for handling. The samples used for the Haugh unit inspection shall comply with the provisions in Clause 5.4 of the Egg Delivery Quality Standard.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the eggs, issue the inspection reports to the Exchange.

The goods of the FOT delivery shall be subject to the weight inspected on the designated FOT delivery site. The designated FOT delivery site shall weigh each box of eggs sampled by the designated inspection agency, take the gross weight and packaging weight respectively, and calculate the goods weight according to the following formula:

Goods weight = (total gross weight of sampled eggs / number of boxes sampled – average weight of the three heaviest packaging pieces sampled) * number of boxes of goods

The designated FOT delivery site may also inspect the weight according to other methods recognized by the buyer and the seller.

In case the eggs to be delivered are batched in each 5 tons, if a batch of eggs is short-packed, and the short-packed quantity ratio is within 3%, the seller shall pay the buyer on site the delivery payment corresponding to the short-packed eggs. If the short-packed quantity ratio exceeds 3% but does not exceed 20%, the seller shall, on the basis of the payment for delivery goods corresponding to 3% ratio of the egg quantity to be delivered, pay the buyer on site twice the delivery payment for the part exceeding 3%. If the short-packed quantity ratio exceeds 20%, Article 75 herein shall apply.

In case of excessive shipment in the egg FOT delivery, the buyer and the seller shall negotiate on the exceeded part and settle it by themselves.

The designated FOT delivery site shall record the seller's goods arrival, buyer's transportation vehicle' arrival and weight inspection etc. truthfully, and shall report them to the Exchange before the market close on the next trading day immediately following the FOT Delivery Date.

Upon pick-up thereof, the buyer must provide to the designated FOT delivery site the pick-up person's identity card, the certification issued by his or her employer recognized by the Exchange and the Notice to Load Out or load-out password.

If the buyer fails to pick up the goods on time, the designated FOT delivery site shall keep the goods after weight inspecting, but it will not undertake liabilities for the change of goods quality and weight. The buyer shall pay the custody fee to the designated FOT delivery site based on the actual number of custody days (including the FOT Delivery Date and the pickup date). If the goods are not picked up for more than two (2) calendar days (excluding the FOT Delivery Date), the designated FOT delivery site shall dispose of the eggs and pay the buyer the corresponding price, including eighty percent (80%) of the contract value calculated based on the lower price between the delivery settlement price and the then-current settlement price of the latest month contract of the third calendar day after the FOT Delivery Date (if such day is not a trading day, the previous trading day shall be taken), the discount and/or premium of the designated FOT delivery site in full amount as well as the packaging price, unless otherwise agreed by the client and the designated FOT delivery site.

Upon consensus negotiation of the buyer and the seller on site, the FOT delivered goods may be shipped directly without weight or quality inspection.

The buyer client can only propose objection to the sanitary indicators of the eggs.

If the quality is inspected to be conforming according to the provisions of Clauses 4.1 and 4.2 in Egg Delivery Quality Standard, and the buyer client has no objection to the sanitary indicators of the eggs, the buyer client shall, prior to 11:30 a.m. on the fourth trading day after the handover day, confirm the goods' weight and quality through the Member, if it fails to do so, it shall be deemed that it has no objection to the weight and quality of the goods; the Exchange shall refund the delivery margin of the seller Member after the market close on the fourth trading day after the handover day, make 80% of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice.

If the quality is inspected to be conforming according to the provisions of Clauses 4.1 and 4.2 in Egg Delivery Quality Standard, but the buyer client has objection to the sanitary indicators of a certain batch of eggs in the FOT delivery site, the buyer client shall propose the objection on the second calendar day (i.e. FOT Delivery Date) after the handover day under the condition that the goods do not leave the designated FOT delivery site, and the designated inspection agency sample the goods on site and send samples to the agency for inspection, and the amount with inspection dispute shall be proposed at integral multiple of the delivery unit. All inspection related fees (inspection fee and traveling charge etc.) shall be prepaid by the buyer. The payment of the objected goods of its matched seller in such FOT delivery site shall be suspended.

Before the market close on the seventh trading day immediately following the handover day, the Exchange shall announce the inspection result, and if the sanitary indicators are inspected to be conforming according to the provisions in Clause 4.3 of Egg Delivery Quality Standard, the Exchange shall, after the market close on the seventh trading day following the handover day, refund the delivery margin to the seller Member and make eighty percent (80%) of the payments of that part to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice, and relevant inspection fee shall be borne by the buyer, and the buyer shall pick up the goods normally on the day following the date when the inspection results are announced, otherwise Article 69 herein and other relevant provisions shall apply. If the sanitary indicators are not conforming, the delivery shall be terminated, and the Exchange shall, after the market close on the seventh trading day following the handover day, pay to the buyer Member the delivery margin of twenty percent (20%) of the contract value of the eggs of that part of the seller Member, and the corresponding goods of that part shall be returned to the seller, the payments shall be returned to the buyer Member. All expenses (inspection fee and traveling charges etc.) and losses shall be borne by the seller.

The seller Member shall provide the common VAT invoice corresponding to the actually delivered goods to the buyer Member within seven (7) trading days after the Exchange pays eighty percent (80%) of the payments.

If the quality is inspected to be nonconforming according to the provisions of Clauses 4.1 and 4.2 in Egg Delivery Quality Standard, Article 75 herein shall apply.

In case of the FOT delivery, if the designated quality inspection agency is unable to conduct the on-site inspection due to force majeure, Article 55 herein shall be implemented by reference. If sample transportation is involved, the designated FOT delivery sites should be responsible for the loading out, and transportation fees arising therefrom should be borne by the designated quality inspection agency.

The buyer and the seller may negotiate to handle the receipt and disbursement of the payments and the handover of the goods for FOT delivery by themselves, the specific processes shall be subjected to the applicable provisions of the Detailed Rules and the Measures for Delivery Management of Dalian Commodity Exchange. If the buyer and the seller negotiate to handle the handover of the goods by themselves, but the receipt and disbursement of the payments is handled through the Exchange, the buyer Member shall supplement all delivery payments before the market close on the handover day, and the Exchange shall transfer all the delivery payments to the seller Member after the market close on the fourth trading day following the handover day.

FOT delivery default means that the buyer fails to fully make the payments within the stipulated time, and the seller fails to fully deliver eggs conforming to the futures delivery quality standard in the stipulated place.

In case the buyer commits a delivery default, the Exchange shall notify the seller Member after settlement on the handover day, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value of the default portions calculated at the delivery settlement price, which shall be paid to the seller; and the delivery shall terminate. The quantity of the contracts of delivery default by the buyer shall be calculated as per the following formula:

The quantity of the contracts of delivery default by the buyer (Lot) = [the payments which should have been paid (CNY) - the payments which have been paid (CNY)] ÷ [the delivery settlement price (CNY/500KG) × (1-20%) + the discounts and/or premiums of designated FOT delivery sites (CNY/500KG) +the packaging price stipulated by the Exchange (CNY/500KG)] ÷2 ÷ the trading unit (Ton/Lot).

In case the seller commits a delivery default, the Exchange shall notify the buyer Member before the market close on the fourth trading day following the handover day, a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value of the default portions calculated at the delivery settlement price, which shall be paid to the buyer; and the buyer's payments shall be released, and the delivery shall terminate.

Contract quantity for the portions insufficiently delivered by the seller (Lot) = [weight of the eggs which should have been delivered (Tons) – weight delivered (Tons)] ÷ trading Unit (Ton/Lot).

The default quantity shall be calculated in "Lot" and rounded up to the nearest integer.

The handling fee and custody fee incurred in FOT delivery shall be capped, and the Exchange will determine and announce them from time to time according to the market condition.

Section IV Handling of Epidemics

The epidemic information and the identification of an epidemic area shall be subject to the information publicly released by the Ministry of Agriculture and Rural Affairs and relevant state departments. As of the calendar day immediately following the date of releasing the information of identification of the epidemic areas, any delivery warehouse located at the epidemic area shall discontinue handling of loading the goods in the warehouse, and any delivery factory warehouse shall discontinue issuance of any standard warehouse receipt, and any FOT delivery site shall discontinue handling of FOT delivery.

After release of the epidemic information, the standard warehouse receipt delivery in the epidemic area shall be disposed of as follows:

in case the information of identification of the epidemic area is released prior to the market close on the matching day, with respect to the rolling delivery, the standard warehouse receipt in the epidemic area shall not participate in the delivery matching, and shall be deregistered by the Exchange; with respect to the rolling delivery, the standard warehouse receipt in the epidemic area shall participate in the delivery matching, after which the delivery shall be terminated, and the Exchange shall, after the market close on the matching day, refund the delivery margin to the seller Member and the delivery advance to the buyer Member;

in case the information of identification of the epidemic area is released after the market close on the matching day but prior to the market close on the handover day, with respect to the standard warehouse receipt already participating in the delivery matching in the epidemic area, the Exchange shall deregister it after the market close on the handover day and refund the delivery margin to the seller Member and the payments to the buyer Member;

in case the information of identification of the epidemic area is released after the market close on the handover day, the Exchange shall refund the delivery margin to the seller Member after the market close on the seventh trading day following the handover day, and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member delivers the common VAT invoice; and

in case the goods in the factory warehouse in the epidemic area have not been loaded out completely when the information of identification of the epidemic area is released, the factory warehouse in the epidemic area shall stop loading out the goods without undertaking any liabilities for loading out the goods. With respect to the goods not loaded out, the factory warehouse shall, within ten (10) working days after the day of release of the information of identification of the epidemic area, refund the corresponding payments to the warehouse receipt holder, and the payments shall be calculated at the settlement price on the day of release of the information of identification of the epidemic area; in case the day of release of the information of identification of the epidemic area is not a trading day, the payments shall be calculated at the settlement price of the previous trading day. In case the epidemic situation occurs after the warehouse receipt holder fails to pick up the goods as stipulated, the factory warehouse shall not refund the payments, and the warehouse receipt holder shall still undertake the liabilities for failing to pick up the goods as stipulated.

After public release of the epidemic information, the FOT delivery in the epidemic area shall be disposed of as follows:

in case the information of identification of the epidemic area is released prior to the market close on the matching day, the FOT delivery application in the epidemic area shall be invalid, and shall not participate in the delivery matching;

in case the information of identification of the epidemic area is released after the market close on the matching day but prior to the market close on the handover day, with respect to the FOT delivery application participating in the delivery matching in the epidemic area, the Exchange shall deregister it after the market close on the handover day and refund the delivery margin to the seller Member and the payments to the buyer Member; and

in case the information of identification of the epidemic area is released after the market close on the handover day, and the goods delivery is not completed, then from the time of release of the information of identification of the epidemic area, the FOT delivery in the epidemic area shall be terminated, and the Exchange shall, after the market close on the fourth trading day following the handover day, refund the delivery margin to the seller Member and the corresponding payments to the buyer Member; if the goods delivery is completed, the Exchange shall, after the market close on the fourth trading day following the handover day, refund the delivery margin to the seller Member, and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the common VAT invoice.

In case the delivery default occurs prior to the release of the epidemic situation, it shall be handled as a delivery default.

In case the epidemic has been eliminated, the delivery warehouses, factory warehouses and FOT delivery sites, the business of which has been suspended shall continue to handle the delivery immediately following the announcement by the Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Egg Delivery Quality Standard of Dalian Commodity Exchange (F/DCE JD003-2020) (Omitted)

Annex 2: List of Delivery Warehouses and FOT Delivery Sites Designated for Egg of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

13. Detailed Rules of Fiberboard Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Fiberboard Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Fiberboard Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of fiberboard futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the packaging requirements of deliverable standard products under the fiberboard futures contract are detailed in the Fiberboard Delivery Quality Standards of Dalian Commodity Exchange (F/DCE FB001-2019) as Annex 1 attached hereto.

The fiberboard futures contract shall take the form of physical delivery.

The delivery warehouses designated for fiberboard shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Fiberboard of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the fiberboard futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the fiberboard futures contract is 10CubicMeters/ Lot.

The price quote unit of the fiberboard futures contract is CNY/Cubic Meter.

The minimum tick size of the fiberboard futures contract is 0.5 CNY/Cubic Meter.

The maximum quantity of orders placed each time for the fiberboard futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the fiberboard futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the fiberboard futures contract is the tenth trading day of the contract month.

The last delivery day of the fiberboard futures contract is the third trading day after the last trading day.

The ticker symbol of the fiberboard futures contract is FB.

Chapter III Delivery and Clearing

Section I General Provisions

The fiberboard futures contract applies the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the Detailed Rules and the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The fiberboard futures contract delivery unit shall be ten (10) cubic meters.

Standard warehouse receipt of fiberboard can be categorized into standard storage warehouse receipt and standard factory warehouse receipt.

With respect to products manufactured by continuous press machine and the manufacturer of which is qualified as a factory warehouse of the Exchange, if such products participate in storage warehouse delivery and the owner is able to provide the original production certificate issued by the factory warehouse and other materials required by the Exchange, which are also recognized by the storage warehouse, the premium/discount of such products is "CNY zero (0) per cubic meter"; if such products are to be delivered at such factory warehouse, the premium/discount of such products is "CNY zero (0) per cubic meter".

Other than the circumstances stated above, the premium/discount of such products is "CNY negative two hundred and fifty (-250) per cubic meter".

The premiums/discounts of products stipulated in this Article 20 shall be settled between the owner and the designated delivery warehouse.

Fiberboards shall be packed in bundles in accordance with practice of the manufacturer, and each bundle of each batch shall have the same quantity of fiberboards, and the bundles shall be covered by moisture-proof plastic layer. Upon delivery, they shall be loaded in the warehouse in bundles, and fiberboards falling short of one (1) bundle shall be packed in accordance with the delivery quality standards, and the quantity of fiberboards in such bundle can be different from that in other bundles of the same batch. The total delivery quantity shall not be less than the total quantity of the commodities as specified in the corresponding standard warehouse receipts.

The prices of the packages of the fiberboard shall be included in the fiberboard futures contract price.

The dedicated VAT invoice shall be issued for delivery of fiberboards.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Fiberboard shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

A Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY five (5) per cubic meter when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage an inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The inspection costs shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The batch grouping with respect to the quality inspection of the fiberboard shall be carried out as per the same manufacturer, the same specification and the manufacturing date within three (3) consecutive calendar days (inclusive of the third calendar day), with each batch being two hundred (200) cubic meters. The inspection shall be carried out in more than one (1) batch for those of more than two hundred (200) cubic meters, or in one (1) batch for those less than two hundred (200) cubic meters.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the fiberboard loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the manufacturer, batch number, quality, packaging and the relevant materials and certificates of the fiberboard which has been loaded in the warehouse.

The receiving and consigning quantity of the fiberboard shall be subject to the checking by the designated delivery warehouse.

The manufacturing date of fiberboards cannot be earlier than the sixtieth (60th) calendar day prior to the application date for registration of the standard warehouse receipts.

The deregistration of the standard warehouse receipt shall be carried out against the standard warehouse receipts of the fiberboard prior to the last trading day of each March and September.

When the fiberboards are loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection over the quality of the commodities to be loaded out of the warehouse, it shall firstly negotiate with the warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days after the standard warehouse receipt is deregistered and if the commodities have been delivered but have not been loaded out of the warehouse, file to the Exchange in writing an application for re-inspection. Such application shall indicate the name of the warehouse, the quantity, the quality index, the manufacturers, the production date and the stack location number of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection, and the re-inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result is consistent with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees, stack shifting costs) and sampling loss incurred thereby shall be borne by the owner; otherwise, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees, stack shifting costs) and sampling loss incurred thereby shall be borne by the warehouse, and the warehouse may exchange or repurchase the commodities, with the repurchase payments = 120% of the delivery settlement price of the latest delivery month × the quantity of the commodities which are re-inspected not conforming to the delivery quality standards. In case of exchanging commodities, the warehouse shall complete the preparation of the commodities within fifteen (15) working days after its receipt of the dispute re-inspection report. The Exchange shall entrust a designated quality inspection agency to inspect the exchanged commodities; if the exchanged commodities conform to the delivery quality standards, the owner shall not refuse receipt of the exchanged commodities and shall pick up the commodities within ten (10) working days at the warehouse after its receipt of the quality inspection report regarding the exchanged commodities; and if no pick-up is made in the prescribed manner within the prescribed period, the warehouse will not guarantee that the quality of all commodities will conform to the futures standards. The relevant fees (including but not limited to the inspection fees, storage fees, stack shifting costs) and sampling loss incurred by exchanging commodities shall be borne by the warehouse. If the exchanged commodities fail to conform to the delivery quality standards, the warehouse shall repurchase the commodities, with the repurchase payments = 120% of the delivery settlement price of the latest delivery month × the quantity of the commodities which are re-inspected upon commodity exchange not conforming to the delivery quality standards, and the corresponding commodities shall belong to the warehouse.

If the owner has any objection to whether the fiberboard is produced by the continuous press factory warehouse, the product shall be determined by such factory warehouse, whose determination shall prevail. If the fiberboard is determined to be the product not produced by such factory warehouse, the factory warehouse shall exchange the commodities within fifteen (15) working days.

When the fiberboards are loaded out of the factory warehouse, the owner shall pick up the commodities within seven (7) calendar days (inclusive of the seventh calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), and the factory warehouse shall commence consignment within seven (7) calendar days (inclusive of the seventh calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day).

Where quantity of the commodities to be received by the owner equals or is more than two hundred (200) cubic meters, the owner may contact with the factory warehouse to choose the thickness of the fiberboards from twelve (12) millimeters within one (1) calendar day (inclusive of the then-current day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), fifteen (15) millimeters and eighteen (18) millimeters, otherwise the factory warehouse has the right to determine the thickness of the fiberboards to be consigned. If quantity of fiberboards of each thickness is not less than two hundred (200) cubic meters, the factory warehouse is obliged to provide the commodities as per the choice of the owner.

When the fiberboards are loaded out of the factory warehouse, the factory warehouse shall draw samples under the owner's supervision and seal up the samples upon confirmation of both parties, and shall preserve the samples for thirty (30) calendar days following sealing of the samples.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the provisions, file in writing an application for re-inspection with the Exchange. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sample inspection result shall be the basis for any dispute settlement. Where there is no provision herein, the relevant provisions in the Clause 1 of Article 35 hereof shall be applicable by reference.

In order to carry out commodity exchange for the owner, the factory warehouse may provide fiberboards of which the specification and quality vary except for those required under the delivery quality standards by reporting the price difference for commodity exchange. The factory warehouse which provides commodity exchange shall report to the Exchange the specification, quality, minimum quantity of commodity exchange, price difference of the fiberboard which can be used for commodity exchange next month before the market close on the last but two trading day (inclusive) of each month, and the Exchange will publish such statistics on the last trading day of the then-current month on its website. If the factory warehouse has reported the price difference for commodity exchange before, it shall be deemed to agree to implement such price difference for the next month if it does not submit revoke application or submit new price difference within the prescribed period.

If the owner does not have objection over quantity and quality of the commodities for futures delivery when picking up the commodities, it shall be deemed that the futures delivery has completed. After completion of the futures delivery, the owner may, if needed, choose to exchange the fiberboards within the specification and quality as provided by the factory warehouse; if the quantity required by the owner is not less than the minimum quantity of commodity exchange reported by the factory warehouse, the factory warehouse is obliged to produce the commodities and settle the price difference with the client in accordance with the published price difference for commodity exchange. Commodity exchange is the physical activity at the will of the factory warehouse and the owner, and the Exchange will not undertake any liability in relation to the quantity and quality of the exchanged commodities and payment for the price difference.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The standard amount of late fee shall be CNY 2/Cubic Meter*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within twenty-two (22) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt(exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, unless all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

The standard amount of late fee shall be CNY 2/Cubic Meter*Day.

If the owner picks up the commodities at the factory warehouse after twenty-two (22) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Cubic Meter*Day × Quantity of all the commodities × 22 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation of the products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily load out speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 41 of the Detailed Rules, compensate the owner, the amount of such compensation for products = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%, the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 41 or 42 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Fiberboard Delivery Quality Standard of Dalian Commodity Exchange (F/DCE FB001-2019) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Fiberboard of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

14. Detailed Rules of Blockboard Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Blockboard Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Blockboard Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of blockboard futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated FOT delivery sites, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards and quality premiums and discounts for the standard deliverable products and the substitutes under the blockboard futures contracts shall be detailed in the Blockboard Delivery Quality Standards of Dalian Commodity Exchange (F/DCE BB003-2023) as Annex 1 attached hereto.

The blockboard futures contract shall take the form of physical delivery.

The delivery warehouses designated for blockboard shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses. The delivery warehouses designated for blockboard are qualified as designated FOT delivery sites.

The delivery warehouses and FOT delivery sites designated for blockboard, as well as the relevant premiums and discounts shall be determined by the Exchange (detailed in the List of Delivery Warehouses and FOT Delivery Sites Designated for Blockboard of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the blockboard futures contract are January, March, May, July, September and November.

The trading unit of the blockboard futures contract is 500 Sheets/Lot.

The price quote unit of the blockboard futures contract is CNY/Sheet.

The minimum tick size of the blockboard futures contract is 0.05 CNY/Sheet.

The maximum quantity of orders placed each time for the blockboard futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the blockboard futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the blockboard futures contract is the tenth trading day of the contract month.

The last delivery day of the blockboard futures contract is the third trading day after the last trading day.

The ticker symbol of the blockboard futures contract is BB.

Chapter III Delivery and Clearing

Section I General Provisions

The blockboard futures contract applies the exchange of futures for physicals delivery, the rolling delivery and one-off delivery, in addition to the provisions of this Detailed Rules, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery may be carried out by the standard warehouse receipt delivery or FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

For those participating in rolling delivery, if the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site.

The delivery unit of blockboard futures contract shall be five hundred (500) sheets.

The standard warehouse receipt of the blockboard is the standard factory warehouse receipt.

The quality inspection of the blockboard shall be carried out in batches of the same manufacturers, of the same specifications, of the same basic material and the same paper impregnated thermosetting resins.

During the holidays specified by the State Council (including adjusted working days and consecutive holidays) and the weekends immediately before and after such holidays, the designated delivery warehouses and designated FOT delivery sites shall suspend the handover of goods and the relevant business shall be postponed accordingly. Except as forgoing provisions, relevant business on other weekends shall stay normal.

In case of the standard warehouse receipt delivery, the differences of the blockboard futures contract discounts and/or premiums shall be settled between the owner and the designated delivery warehouse; in case of the FOT delivery, the differences of the blockboard futures contract discounts and/or premiums shall be settled by the buyer and the seller on the spot, or the seller may engage a designated FOT delivery site to carry out the settlement on its behalf.

The number of sheets in each blockboard bundle shall be in accordance with the spot practice of the manufacturer. Upon delivery, the blockboard shall be loaded out of the warehouse by bundle and each bundle shall be of the same quantity, the same basic material and the same paper impregnated thermosetting resins, and the sheets falling short of one (1) bundle shall be packed separately. The bundles shall be covered by moisture-proof plastic layer to prevent bumping, scratches and defacements to the products. The total delivery quantity shall not be less than the total quantity of the commodities as specified in the corresponding standard warehouse receipts.

The prices of the packages of the blockboard shall be included in the blockboard contract price.

The dedicated VAT invoice shall be issued for delivery of blockboard.

The delivery commissions, the sampling and inspection costs, the storage fees and other fees of Blockboard shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The manufacturing date of the blockboard commodities shall not be earlier than the sixtieth (60） calendar day prior to the date of application for registration of the standard warehouse receipt of the blockboard warehouse.

The Blockboard standard warehouse receipts which are used for the delivery matching shall be deregistered immediately after the market close on the handover day and after the Exchange has transferred the standard warehouse receipts delivered by the seller to the corresponding matched buyer within that day, except for failure on transfer of the standard warehouse receipts due to the delivery default or discrepancy in delivery matching conditions.

The standard warehouse receipts which are not used for the delivery matching shall be deregistered before the last trading day of each delivery month.

The owner of the goods shall confirm the basic material and paper impregnated thermosetting resins of the delivery goods within two (2) calendar days after the deregistration date of the standard warehouse receipt (exclusive of the deregistration date). Each lot of delivery goods shall have the same basic material and one or two kinds of paper impregnated thermosetting resins. Where the owner chooses two kinds, the number of each kind shall be two hundred (200) or three hundred (300) sheets. The optional basic material and paper impregnated thermosetting resins shall be subject to the Exchange's announcement. If changes occur, the factory warehouse shall notify the Exchange before the market close on the fifth (5) trading day of each April, August, December, and the Exchange shall announce such changes by the seventh (7) trading day of that month.

The factory warehouse shall provide the delivery goods based on the basic material and paper impregnated thermosetting resins the owner chooses. In the case of failure to confirm the choice in time by the owner, the factory warehouse may decide in its discretion the basic material and paper impregnated thermosetting resins of the delivery goods within the range announced by the Exchange.

After confirming the choice of the basic material and paper impregnated thermosetting resins, the owner shall contact the designated delivery warehouse for the loading-out matters and negotiate for the date of goods pick-up in advance. The starting date of goods pick-up shall not be later than the seventeenth (17) calendar day following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). If the negotiation fails, the factory warehouse shall commence consignment within the seventeenth (17) calendar day (inclusive of the seventeenth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

When the blockboard is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day as the basis of settlement in case of disputes over the quality of physical and chemical properties or formaldehyde emission.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, where the owner has objection over the appearance quality, specification and dimension, the owner shall, on the date of goods pick-up and if the commodities have not been loaded out of the factory warehouse, file an application for re-inspection, for which the Exchange shall entrust a designated quality inspection agency to carry out the sampling inspection to the disputed blockboard on spot, and such sampling inspection result shall be the basis for any dispute settlement; where the owner has objection over the kind of basic material, the owner shall, on the date of goods pick-up and if the commodities have not been loaded out of the factory warehouse, file an application for re-inspection, for which the Exchange shall entrust a designated quality inspection agency to carry out the inspection to all disputed blockboard on spot, and such inspection result shall be the basis for any dispute settlement; where the owner has objection over the physical and chemical properties or the formaldehyde emission, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed according to Article 31 of this Detailed Rules, file an application for re-inspection with the Exchange, for which the Exchange shall entrust a designated quality inspection agency to carry out the inspection over the reserved samples, and such sampling inspection result shall be the basis for any dispute settlement.

The owner shall file the application for re-inspection to the Exchange in writing. Such application shall indicate the name of the factory warehouse, the quantity, the quality index, the production date, the stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The re-inspection costs shall be advanced by the owner. If the re-inspection result is consistent with the result determined by the factory warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees, stack shifting costs) and sampling loss incurred thereby shall be borne by the owner. Otherwise, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees, stack shifting costs) and sampling loss incurred thereby shall be borne by the factory warehouse. If the re-inspection result is consistent with the delivery quality standards, the owner shall pick up the goods normally, and the factory warehouse and the owner will settle the differences of quality discounts and/or premiums according to re-inspection result. If the re-inspection result is inconsistent with the delivery quality standards, the factory warehouse may exchange or repurchase the commodities, with the repurchase payments = 120% of the delivery settlement price of the latest delivery month × the quantity of the commodities which are re-inspected not conforming to the delivery quality standards. In case of exchanging commodities, the factory warehouse shall complete the preparation of the commodities within fifteen (15) working days after its receipt of the dispute re-inspection report. The Exchange shall entrust a designated quality inspection agency to inspect the exchanged commodities; if the exchanged commodities conform to the delivery quality standards, the owner shall not refuse receipt of the exchanged commodities and shall pick up the commodities within ten (10) working days at the factory warehouse after its receipt of the quality inspection report regarding the exchanged commodities, and the factory warehouse and the owner will settle the differences of quality discounts and/or premiums according to re-inspection result; and if no pick-up is made in the prescribed manner within the prescribed period, the factory warehouse will not guarantee that the quality of all commodities will conform to the futures standards. The relevant fees (including but not limited to the inspection fees, travelling expenses, storage fees, stack shifting costs) and sampling loss incurred by exchanging commodities shall be borne by the factory warehouse. If the exchanged commodities fail to conform to the delivery quality standards, the factory warehouse shall repurchase the commodities, with the repurchase payments = 120% of the delivery settlement price of the latest delivery month × the quantity of the commodities which are re-inspected upon commodity exchange not conforming to the delivery quality standards, and the corresponding commodities shall belong to the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 0.1/Sheet*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within thirty-one (31) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, unless all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 0.1/Sheet*Day.

If the owner picks up the commodities at the factory warehouse after thirty-one (31) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 0.1/Sheet*Day × Quantity of all the commodities × 31 Days.

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 36 of the Detailed Rules, compensate the owner the amount of compensation, the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity× Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%.

In the event of any violation by the factory warehouse described in Article 36 or 37 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such violation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Section III FOT Delivery

The maximum deliverable amount every day on each designated FOT delivery site shall be specified by the Exchange (detailed in the List of Delivery Warehouses and FOT Delivery Sites Designated for Blockboard of Dalian Commodity Exchange as Annex 2 attached hereto).

The blockboard used for the FOT delivery by the seller shall be the blockboard provided by the designated FOT delivery site corresponding to the seller's delivery application. At the time of the FOT delivery, the seller may entrust the FOT delivery site on behalf of the seller, to perform the delivery obligation of blockboard and other related obligations. If the designated FOT delivery site fails to perform such obligations or perform such obligations in violation of relevant provisions, the seller shall bear the corresponding liabilities.

The buyer shall confirm the basic material and paper impregnated thermosetting resins of the delivery goods within two (2) calendar days after the matching day (exclusive of the matching day). Each lot of the delivery goods shall have the same basic material and one or two kinds of paper impregnated thermosetting resins. Where the buyer chooses two kinds, the number of each kind shall be two hundred (200) or three hundred (300) sheets. The optional basic material and paper impregnated thermosetting resins shall be subject to the Exchange's announcement. If changes occur, the designated FOT delivery site shall notify the Exchange before the market close on the fifth (5) trading day of each April, August, December, and the Exchange shall announce such changes by the seventh (7) trading day of that month.

The seller shall provide the delivery goods based on the basic material and paper impregnated thermosetting resins the buyer chooses. In the case of failure to confirm the choice in time by the buyer, the seller may decide in its discretion the basic material and paper impregnated thermosetting resins of the delivery goods within the range announced by the Exchange.

After confirming the choice of the basic material and paper impregnated thermosetting resins, the buyer shall negotiate with the seller on the handover day of goods (i.e., the FOT delivery date) in advance. The FOT delivery date shall not be later than the seventeenth (17) calendar day following the matching day (exclusive of the matching day), except for the case where the buyer and the seller agree to handle the handover of goods on their own according to Article 50 of this Detailed Rules.

The seller shall load the goods to the buyer's transportation vehicle within the FOT delivery date.

If the goods have not started to be loaded to the buyer's transportation vehicles at 13:30 on the FOT delivery date for the reason of the buyer, the seller may store the goods at the designated FOT delivery site.

When the goods are loaded to the buyer's transportation vehicles or stored at the designated FOT delivery site for the reason of the buyer, it shall be deemed that the delivery is completed and the goods ownership is transferred. The handling fee incurred shall be borne by the seller; and all expenses (including but not limited to handling fee and demurrage charge) incurred consequently shall be borne by the buyer.

The designated quality inspection agency shall arrive on site at the time required by the Exchange, record truthfully the arrival of the buyer's transportation vehicles and other relevant circumstances, and report them to the Exchange before the market close on the next trading day immediately following the FOT delivery date.

Upon pick-up thereof, the buyer must provide to the designated FOT delivery site the pick-up person's identity card, the certification issued by his or her employer recognized by the Exchange and the Notice to Load Out or load-out password.

If the buyer fails to pick up the goods on time, the designated FOT delivery site shall not undertake any liability for changes in quality and quantity of the goods caused for reasons not attributable to its fault. The buyer shall pay the demurrage charge to the designated FOT delivery site based on the actual number of storage days (including the FOT delivery date and pickup date). The fee standard shall be separately published by the Exchange, unless otherwise agreed by the buyer and the designated FOT delivery site.

If the buyer has no objection over the quality of the goods handed over, the buyer shall, prior to 11:30 a.m. on the fifteenth (15) trading day following the handover day, confirm the quality and quantity of the goods through the Member. If the buyer fails to do so, it shall be deemed that it has no objection to the quality and quantity of the goods. The Exchange shall refund the seller Member's delivery margin and make eighty percent (80%) of the payments for goods to the seller Member after the market close on the fifteenth (15) trading day following the handover day, and the remaining payments shall be fully settled after the seller Member provides the VAT special invoice.

If the buyer has any objection over the quality of the goods handed over, it shall firstly negotiate with the seller. If the negotiation fails, where the buyer has objection over the appearance quality, specification and dimension, physical and chemical properties or formaldehyde emission, the designated quality inspection agency shall carry out the sampling inspection; where the buyer has objection over the kind of basic material, the designated quality inspection agency shall carry out the inspection to all disputed goods. The inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the buyer. If the re-inspection result is consistent with the result determined by the seller, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees, stack shifting costs) and sampling loss incurred thereby shall be borne by the buyer. Otherwise, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees, stack shifting costs) and sampling loss incurred thereby shall be borne by the seller.

If the re-inspection result is consistent with the delivery quality standards, the buyer shall pick up the goods normally, and the seller and the buyer will settle the differences of quality discounts and premiums according to re-inspection result. The Exchange shall refund the seller Member's delivery margin and make eighty percent (80%) of the payments for goods to the seller Member, and settle the remaining payments after the seller Member provides the VAT special invoice according to the following specified time:

in the case of the objection only involving the appearance quality, specification, dimension and the kind of basic material, the specified time shall be after the market close on the fifteenth (15) trading day following the handover day;

in the case of the objection only involving the physical and chemical properties, the specified time shall be after the market close on the twenty-second (22) trading day following the handover day;

in the case of the objection only involving the formaldehyde emission, the specified time shall be after the market close on the thirty-seventh (37) trading day following the handover day;

in the case of the objections involving several items of the quality, the longest period of time provided for the objection shall prevail.

In the case that re-inspection result is inconsistent with the delivery quality standards, the delivery shall be terminated and handled as the FOT delivery default.

The seller Member shall provide the VAT special invoice corresponding to the actual delivery goods to the buyer Member within seven (7) trading days after the Exchange makes eighty percent (80%) of the goods payments.

FOT delivery default shall mean that, within the stipulated time, the buyer fails to fully make the payments or the seller fails to fully deliver the blockboard conforming to the futures delivery quality standard at the stipulated place.

In case the buyer commits a delivery default, the Exchange shall notify the seller Member after settlement on the handover day, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value of the defaulted portions calculated at the delivery settlement price on the matching day, which shall be paid to the seller; and the delivery shall terminate. Contract quantity of the buyer's delivery default shall be calculated as per the following formula:

Contract quantity of the buyer's delivery default (Lot) = [the payments which should have been paid (CNY) - the payments which have been paid (CNY)] ÷ [the delivery settlement price (CNY/Sheet) × (1-20%) + the premiums/discounts of designated FOT delivery sites (CNY/Sheet)] ÷ the trading unit (Sheet/Lot).

In case the seller commits a delivery default, the Exchange shall notify the buyer Member within the specified time according to Article 47 Paragraph 2 of the Detailed Rules, and a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value of the default portions calculated at the delivery settlement price on the matching day, which shall be paid to the buyer; and the buyer's payments shall be released, and the delivery shall terminate.

Contract quantity for the portions insufficiently delivered by the seller (Lot) = [number of the goods which should have been delivered (Sheet) – number of the goods delivered (Sheet)] ÷ trading unit (Sheet/Lot).

The default quantity shall be calculated in "Lot" and rounded up to the nearest integer.

The buyer and the seller may negotiate to handle the receipt and disbursement of the payments and handover of the goods for the FOT delivery by themselves, the specific processes shall be subject to the applicable provisions of the Detailed Rules and the Measures for Delivery Management of Dalian Commodity Exchange. If the buyer and the seller negotiate to handle the handover of the goods by themselves, but the receipt and disbursement of the payments are handled through the Exchange, the buyer Member shall supplement the full payments for goods before the market close on the handover day, and the Exchange shall transfer all the payments for goods and refund the delivery margins to the seller Member after the market close on the fifteenth (15) trading day following the handover day.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Blockboard Delivery Quality Standard of Dalian Commodity Exchange (F/DCE BB003-2023) (Omitted)

Annex 2: List of Delivery Warehouses and FOT Delivery Sites Designated for Blockboard of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

15. Detailed Rules of Polypropylene Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Polypropylene Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Polypropylene Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of polypropylene futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The quality standards for and the packaging requirements for the standard deliverable products under the polypropylene futures contracts shall be detailed in the Polypropylene Delivery Quality Standards of Dalian Commodity Exchange (F/DCE PP001-2014) as Annex 1 attached hereto.

Delivery shall be prohibited with respect to the non-conforming products identified by the original manufacturer and the polypropylene manufactured by taking the recovered materials as the raw materials.

The delivery products of the polypropylene shall be those of the delivery brands announced by the Exchange. The rules for management of delivery brands will be separately prescribed by the Exchange. The delivery brands, the relevant enterprises and the brand premiums and/or discounts will be separately published by the Exchange.

Price difference of the brand premiums and/or discounts of the polypropylene futures contract shall be settled between the owner and the designated delivery warehouse.

If the owner is able to provide relevant certificates to prove the product quality conforms to the futures delivery quality standards issued by the enterprise applying for the delivery brand qualification, polypropylene products of the delivery brand may be exempted from loading-in quality inspection.

The polypropylene futures contract shall take the form of physical delivery.

The delivery warehouses designated for polypropylene shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Polypropylene of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the polypropylene futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the polypropylene futures contract is 5 MT/Lot.

The price quote unit of the polypropylene futures contract is CNY/MT.

The minimum tick size of the polypropylene futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the polypropylene futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the polypropylene futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the polypropylene futures contract is the tenth trading day of the contract month.

The last delivery day of the polypropylene futures contract is the third trading day after the last trading day.

The ticker symbol of the polypropylene futures contract is PP.

Chapter III Delivery and Clearing

Section I General Provisions

The polypropylene futures contract applies the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

Standard warehouse receipt of polypropylene can be categorized into standard storage warehouse receipt and standard factory warehouse receipt.

The delivery products of polypropylene shall use the packages of the original manufacturer or the packages approved by the original manufacturer. The packing sacks shall bear the trademark, the product name, the product standard number, the net weight, the manufacturer's name and address as well as the product type.

The prices of the packages of the polypropylene shall be included in the polypropylene futures contract price.

The net weight of each sack of the delivery products of the polypropylene shall be 25±0.2 kilograms. Each ton shall have forty (40) sacks without calculation of any more or less thereof.

The dedicated VAT invoice shall be issued for delivery of polypropylene.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Polypropylene shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The batch grouping with respect to the quality inspection shall be carried out as per the same manufacturer and the same brand, with each batch being three hundred (300) tons. The inspection shall be carried in more than one (1) batch for those of more than three hundred (300) tons, or in one (1) batch for those less than three hundred (300) tons.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the polypropylene loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

In case that the owner or the designated delivery warehouse has any objection over the inspection result of the commodity inspection report during loading-in of the storage warehouse commodities, excluding commodities that are exempted from loading-in inspection, it shall file a written application for re-inspection with the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be borne by the party raising the dispute.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the manufacturer, brand, quality, packaging and the relevant materials and certificates of the polypropylene which has been loaded in the warehouse.

When registering the standard warehouse receipt of polypropylene futures, the owner shall provide a photocopy of the corresponding dedicated VAT invoice, and the designated delivery warehouse shall verify sources of the commodities.

The receiving and consigning quantity of the polypropylene shall be subject to the checking by the designated delivery warehouse.

With respect to the application for registration of polypropylene standard warehouse receipt of the storage warehouse (including those manufactured domestically or abroad), the period of the date of the application for registration from the manufacturing date of the commodities shall not exceed one hundred and eighty (180) calendar days.

The deregistration of the standard warehouse receipt shall be carried out against the standard warehouse receipts of the polypropylene prior to the last trading day of each March.

When the polypropylene is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have been delivered but have not been loaded out of the warehouse. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner.

For commodities that are not exempted from loading-in inspection, if the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) as well as any losses incurred thereby shall be borne by the warehouse; where the re-inspection result is consistent with the delivery quality standards, but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, the warehouse shall compensate the owner at the rate of CNY two hundred (200)/ton or less first, and shall have the right to claim against the applicant for the standard warehouse receipt registration and other liable persons thereafter, for which process the enterprise applying for the delivery brand qualification shall provide relevant assistance.

For commodities exempted from loading-in inspection, if the re-inspection result for the dispute is in conformity with the delivery quality standards, the relevant fees and expenses incurred thereby shall be borne by the owner; if not, such fees and expenses shall be borne by the enterprise applying for the delivery brand qualification. If the re-inspection result for the dispute does not conform with the delivery quality standards, or if the re-inspection result conforms with the delivery quality standards but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, unless otherwise agreed upon by the owner and the enterprise applying for the delivery brand qualification, the enterprise applying for the delivery brand qualification shall replace the commodities for the owner at the original closing location within fifteen (15) calendar days following the day on which it received or should have received the re-inspection result. If the enterprise applying for the delivery brand qualification fails to replace the commodities within such period, the enterprise applying for the delivery brand qualification shall compensate the owner as per CNY two (2)/ton; if the enterprise applying for the delivery brand qualification fails to replace the commodities within sixty (60) calendar days following the day on which it received or should have received the re-inspection result, the enterprise applying for the delivery brand qualification shall compensate the owner all the losses incurred thereby. After the enterprise applying for the delivery brand qualification makes compensation to the owner, it shall have the right to claim against the applicant for the standard warehouse receipt registration or other liable persons.

When the polypropylene is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day).

When the polypropylene is loaded out of the factory warehouse, the factory warehouse shall draw samples under the owner's supervision, and the samples shall be sealed upon confirmation of both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the preceding provisions, file in writing an application for re-inspection with the Exchange. Such application shall indicate the name of the factory warehouse, the quantity, the quality index, the manufacturers, the brand number and the stack location number (if any) of the commodities that need to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the re-inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or other reasons, the owner shall pay late fee to the factory warehouse. The late fee is calculated as follows:

from the start date of the pick-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse, and the factory warehouse shall nevertheless assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be calculated as follows:

from the expiration date of picking-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but completes the consignment of all the commodities on time, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which should have been consigned as per the required daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 38 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

the Exchange will provide to the owner the physical commodities of the same quality and quantity in other factory warehouses or other places and will bear all the costs and expenses arising out of or in connection with change of delivery site and the delayed consignment; or

the Exchange will refund to the owner the payment of the commodities and compensate the owner if it fails to provide the abovementioned commodities.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 120%

In the event of any default of the factory warehouse described in Article 38 or 39 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Polypropylene Delivery Quality Standard of Dalian Commodity Exchange (F/DCE PP001-2014) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Polypropylene of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

16. Detailed Rules of Corn Starch Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Corn Starch Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Corn Starch Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of corn starch futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for and the packaging requirements for the standard deliverable products under the corn starch futures contracts shall be detailed in the Corn Starch Delivery Quality Standard of Dalian Commodity Exchange (F/DCE CS003-2024) as Annex 1 attached hereto.

The delivery products of the corn starch shall be processed out of the domestically cultivated corn as the raw materials, the place of origin of which shall be located within the territory of China.

The corn starch futures contract shall take the form of physical delivery.

The delivery warehouses designated for corn starch shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Corn Starch of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the corn starch futures contract are January, March, May, July, September and November.

The trading unit of the corn starch futures contract is 10 MT/Lot.

The price quote unit of the corn starch futures contract is CNY/MT.

The minimum tick size of the corn starch futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the corn starch futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the corn starch futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the corn starch futures contract is the tenth trading day of the contract month.

The last delivery day of the corn starch futures contract is the third trading day after the last trading day.

The ticker symbol of the corn starch futures contract is CS.

Chapter III Delivery and Clearing

Section I General Provisions

The corn starch futures contract applies the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The standard warehouse receipt of the corn starch can be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The aggregate actual delivery net weight of the corn starch shall not be less than the aggregate weight of the goods under the corresponding standard warehouse receipts, with the excess of the total net weight of each batch grouping not more than the net weight of each sack. With respect to the excess, settlement shall be made on the basis of the settlement price of the immediately preceding trading day of the corn starch futures contracts of the recent trading month, with the corresponding payments and the dedicated VAT invoices to be received and forwarded by the delivery warehouse.

The packing specifications of delivery products of corn starch shall be implemented in accordance with Annex 3 "Relevant Provisions on the Packing Specifications of Delivery Products of Corn Starch of Dalian Commodity Exchange".

The batch grouping with respect to the quality inspection of the corn starch shall be carried out as per the same manufacturer and the same packaging specifications, with each batch being three hundred (300) tons. The inspection shall be carried in more than one (1) batch for those of more than three hundred (300) tons, or in one (1) batch for those less than three hundred (300) tons. The quantity of the samplings for each batch shall be detailed in the Corn Starch Delivery Quality Standard of Dalian Commodity Exchange (F/DCE CS003-2024) as Annex 1 attached hereto.

The prices of the packages of the corn starch shall be included in the corn starch futures contract price.

The dedicated VAT invoice shall be issued for delivery of corn starch.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees and other fees of Corn Starch shall be separately published by the Exchange.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY ten (10) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall notify the designated delivery warehouse of the vehicle or vessel number, container number and lead sealing number (if any), products, quantity, arrival time and other information three (3) calendar days prior to loading the commodities in the warehouse, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of the corn starch shall be subject to the weighting by the designated delivery warehouse through the measurement of wagon balance or rail weighbridge of the designated delivery warehouse without calculation of the weights of the packages. After sorting and counting the number of the sacks of the goods, the designated delivery warehouse shall, on the basis of the Exchange rules, deduct the corresponding packaging weight and, and calculate the net weight of the corn starch loaded in the warehouse as the basis for issuing a standard warehouse receipt.

Apart from the provisions of Article 30 of the Detailed Rules, the designated delivery warehouse shall engage an inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The owner shall notify the designated delivery warehouse of the packaging specifications, the arrival method, the arrival quantity and the arrival time three (3) calendar days prior to loading the commodities in the warehouse. The designated delivery warehouse shall notify, after its receipt of the owner's notice of the loading thereof in the warehouse, to the designated inspection agency the aforesaid information which shall be clearly described in the quality inspection agreement. In addition, the quality inspection agreement shall provide for, among other things, the day and night operation costs, the inspection quantity, and the time of issuing the inspection report, the designated quality inspection agency's liability due to its failure to timely arrive at the site, and otherwise. The inspection costs shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The loading-in-warehouse sampling of the corn starch shall be carried out prior to the loading-in-warehouse stacking; and in case the already delivered commodities will be continuously delivered at the originally designated delivery warehouse, the sampling may be carried out through opening the stack, shifting the stack or otherwise.

The inspection agency designated by the Exchange shall, after its completion of the quality inspection of the corn starch, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

Corn starch stored in containers as a whole may be exempted from quality inspection if it satisfies any of the following conditions:

the owner is able to provide the corn starch produced by the factory warehouse recognized by the Exchange, and provide the original product quality certificate of such batch of corn starch for futures delivery and other materials required by the Exchange; or

the storage warehouse provides the performance guarantee issued by a bank, cash deposit or other guarantees methods recognized by the Exchange for the corn starch loaded in the storage warehouse.

The list of the factory warehouse stipulated in Item (1) of the preceding paragraph will be released separately by the Exchange. The product quality certificate shall contain the manufacturer, batch number, packaging specifications, date of production, inspection items, inspection results and other information. The storage warehouse shall check the information recorded on the product quality certificate according to the delivery quality standards of the Exchange and relevant regulations, and verify with the factory warehouse.

The same batch of corn starch exempted from quality inspection shall be produced by the same manufacturer, with the same batch number and with the same packaging specification. Each batch shall contain three hundred (300) tons of corn starch. Corn starch in excess of three hundred (300) tons shall be divided into several batches and corn starch in less than three hundred (300) tons shall be handled as one (1) batch.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the manufacturer, place of origin, manufacturing date and the relevant materials and certificates of the commodities which have been loaded in the warehouse.

The period of the date of the application for registration of the standard warehouse receipt of the corn starch warehouse from the manufacturing day of the commodities shall not exceed ninety (90) calendar days (inclusive).

The deregistration of the standard warehouse receipt shall be carried out against the standard warehouse receipts of the corn starch prior to the last trading day of each March, July and November.

When the corn starch is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact, three (3) calendar days prior to the actual pickup date, the designated delivery warehouse for the loading-out matters, and shall, within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt, pick up the commodities at the designated delivery warehouse.

Upon the negotiation and agreement between the storage warehouse and the owner, the corn starch loaded in the storage warehouse as a whole container may be loaded out of the storage warehouse as a whole container.

If the owner has objections over the quality of commodities loaded out of the storage warehouse, it shall first negotiate with the storage warehouse for settlement. If the negotiation fails, the owner shall apply for re-inspection in written form to the Exchange within (10) working days upon the cancellation of standard warehouse receipts and provided that the commodities have been delivered but have not been loaded out of the storage warehouse. The application for re-inspection shall specify the name of the warehouse, the stacks, container number and lead sealing number (if any), quantity and quality index of the commodities to be re-inspected and so on, keep the contact information, and affix the official seal of the owner. The Exchange shall entrust a designated quality inspection institution to conduct the re-inspection, and the re-inspection result shall be the basis for the settlement of disputes. Where an application is not filed in the prescribed form within the prescribed time limit, it shall be deemed that the owner has no objection over the quality of commodities loaded out of the storage warehouse. The fees for re-inspection shall be paid in advance by the owner.

For the commodities exempted from inspection in accordance with Item (1), Paragraph 1 of Article 30, if the results of re-inspection conform to the delivery quality standards, the commodities shall be loaded out of the storage warehouse normally, and the relevant expenses (inspection fees, travel expenses and warehousing expenses, etc.) incurred therefrom shall be borne by the owner; in case of inconformity, the relevant expenses (inspection fees, travel expenses and warehousing expenses, etc.) incurred therefrom shall be borne by the factory warehouse as the manufacturer. The factory warehouse shall, within fifteen (15) calendar days after it has received or should have received the re-inspection result, replace the commodities for the owner at the original delivery site. If the replacement is not completed within the specified time limit, the factory storage shall pay the owner a compensation at CNY 2/Ton per day; If the factory fails to complete the replacement within sixty (60) calendar days after it has received or should have received the re-inspection result, the factory storage shall compensate the owner for all the losses.

For the commodities other than those prescribed in the preceding paragraph, if the re-inspection results conform to the delivery quality standards, the commodities shall be loaded out of the storage warehouse normally, the relevant expenses (inspection fees, travel expenses and warehousing expenses, etc.) incurred therefrom shall be borne by the owners; in case of inconformity, the relevant expenses (inspection fees, travel expenses and warehousing expenses, etc.) and losses incurred therefrom shall be borne by the storage warehouse.

When the corn starch is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The packages shall not be calculated in the weight. After sorting and counting the number of the sacks of the goods, the factory warehouse shall, on the basis of the Exchange rules, deduct the corresponding packaging weight and calculate the net weight of the corn starch loaded out of the factory warehouse.

When the corn starch is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day as the basis for handling any quality dispute.

If the owner has objections over the quality of commodities loaded out of the factory warehouse, it shall first negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall apply for re-inspection in written form to the Exchange within (10) working days after sealing up the samples in accordance with the relevant provisions (excluding the day of sealing up). The application for re-inspection shall specify the name of the factory warehouse, quantity and quality index of the commodities to be re-inspected and so on, keep the contact information, and affix the official seal of the owner. The Exchange shall entrust a designated quality inspection institution to conduct the re-inspection, and the re-inspection result of the sealed samples shall be the basis for the settlement of disputes. Where an application is not filed in the prescribed form within the prescribed time limit, it shall be deemed that the owner has no objection over the quality of commodities loaded out of the factory warehouse. The fees for re-inspection shall be paid in advance by the owner.

If the results of re-inspection conform to the delivery quality standards, the relevant expenses (inspection fees, travel expenses and warehousing expenses, etc.) incurred therefrom shall be borne by the owners; in case of inconformity, the relevant expenses (inspection fees, travel expenses and warehousing expenses, etc.) incurred therefrom shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, unless all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation =One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%.

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 41 of the Detailed Rules, compensate the owner the amount of compensation, the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; The following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; and

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%.

In the event of any violation by the factory warehouse described in Article 41 or 42 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such violation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Corn Starch Delivery Quality Standard of Dalian Commodity Exchange (F/DCE CS003-2024) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Corn Starch of Dalian Commodity Exchange (Omitted)

Annex 3: Regulations on the Packing Specifications of Delivery Products of Corn Starch of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

17. Detailed Rules of Ethylene Glycol Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Ethylene Glycol Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Ethylene Glycol Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of ethylene glycol futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for the standard deliverable products under the ethylene glycol futures contracts shall be detailed in the Ethylene Glycol Delivery Quality Standards of Dalian Commodity Exchange (F/DCE EG001-2018) as Annex 1 attached hereto.

The ethylene glycol futures contract shall take the form of physical delivery.

The delivery warehouses designated for ethylene glycol shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Ethylene Glycolof Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the ethylene glycol futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the ethylene glycol futures contract is 10 MT/Lot.

The price quote unit of the ethylene glycol futures contract is CNY/MT.

The minimum tick size of the ethylene glycol futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the ethylene glycol futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the ethylene glycol futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the ethylene glycol futures contract is the last but three trading day of the contract month.

The last delivery day of the ethylene glycol futures contract is the third trading day after the last trading day.

The ticker symbol of the ethylene glycol futures contract is EG.

Chapter III Delivery and Clearing

Section I General Provisions

The ethylene glycol futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery. The ethylene glycol futures contract may apply the bonded delivery.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

When using the bonded standard warehouse receipts for the EFPs delivery, rolling delivery and one-off delivery, the applicable provisions in the Detailed Rules shall apply.

When using the duty-paid standard warehouse receipts for the EFPs delivery, rolling delivery and one-off delivery, the applicable provisions in the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange shall apply.

The delivery settlement price of one-off delivery shall be the weighted average price of all trade prices of the futures contract in the last ten (10) trading days of the delivery month; in case the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof.

The delivery unit of ethylene glycol futures contract shall be ten (10) tons.

The standard warehouse receipt of the ethylene glycol can be divided into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt, and can also be divided into the bonded standard warehouse receipt and the duty-paid standard warehouse receipt.

Except for the exchange of futures for physicals of the bonded standard warehouse receipt (the "Bonded EFPs") for which the common VAT invoice shall be issued, the dedicated VAT invoice shall be issued for delivery of ethylene glycol.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Ethylene Glycol shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information three (3) calendar days prior to loading the commodities in the warehouse, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of the ethylene glycol shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance for automobile transport; or through storage tank ruler-metering for train or vessel transport, which shall be conducted by the Exchange-designated quality inspection agency engaged by the designated delivery warehouse. The inspection costs shall be borne by the owner and forwarded by the designated delivery warehouse.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The designated delivery warehouse shall notify the designated quality inspection agency of the arrival method, the arrival quantity, the arrival time and other relevant information three (3) calendar days prior to the commodities being loaded in the warehouse. The inspection costs shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

For ethylene glycol stored in futures and spot mixed tanks, the designated delivery warehouse shall ensure that the whole tank of goods meets the quality standards for futures delivery.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the loading-in ethylene glycol, issue one (1) original and three (3) duplicate inspection reports. The original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

In case that the owner or the designated delivery warehouse has any objection over the inspection result of the commodity inspection report, it shall file a written application for re-inspection with the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, the number of the storage tank (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be borne by the party raising the dispute.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the ex-factory inspection report, the certificate of place of origin and other relevant materials and certificates of the commodities loaded in the warehouse.

The deregistration of the standard warehouse receipts shall be carried out against the warehouse receipts of the ethylene glycol prior to the last trading day (inclusive of the last trading day) of each March.

When the ethylene glycol is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have been delivered but have not been loaded out of the warehouse. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, the number of the storage tank (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner. If the inspection result for the dispute is in conformity with the delivery quality standards, the relevant fees and expenses (including but not limited to inspection fees, traveling expenses, storage fees) incurred thereby shall be borne by the owner; if not, such fees and expenses (including but not limited to inspection fees, traveling expenses, storage fees) shall be borne by the warehouse.

When the ethylene glycol is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The factory warehouse shall consign the commodities subject to the delivery quality standards as required by the contract, and issue to the owner the certificate of place of origin or the ex-factory inspection report and other relevant materials and certificates of the sources and quality of the commodities.

When the ethylene glycol is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the provisions, file in writing an application for re-inspection to the Exchange. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the sample inspection result shall be the basis for any dispute settlement. Where there is no provision herein, the relevant provisions of Article 32 hereof shall be applicable by reference.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee as per the quantity of the commodities which shall be, but fail to be, picked up. The late fee is determined as follows:

from the starting date of commodities pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the commodities which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of commodities pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, unless all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the commodities which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%.

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 37 of the Detailed Rules, compensate the owner, and the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 37 or 38 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such violation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Bonded Standard Warehouse Receipt

Section I Generation of the Bonded Standard Warehouse Receipt

The processes for the generation of a bonded standard warehouse receipt shall be subject to the provisions applicable to the standard warehouse receipt of the Exchange.

The standard warehouse receipt applied and registered by the bonded delivery warehouse shall clearly indicate whether the corresponding commodities are under bonded status or duty-paid status, and the bonded delivery warehouse shall manage the commodities under different status separately.

Section II Circulation of the Bonded Standard Warehouse Receipt

The bonded standard warehouse receipt may be used for one-off delivery, rolling delivery or EFPs delivery.

The bonded standard warehouse receipt may be used as margins with the approval of the Exchange.

Where the bonded standard warehouse receipt is used as margins, at the time of daily settlement, the Exchange shall take the settlement price without tax of the futures contracts of the latest delivery month of the product under such standard warehouse receipt on the then-current day as the benchmark price to calculate its market value. Before the market close on the then-current day, the settlement price without tax of the futures contracts of the latest delivery month of the product under such bonded standard warehouse receipt on the previous trading day shall be taken as the benchmark price to calculate its market value.

Benchmark price of the bonded standard warehouse receipt as margins before the market close = [(the settlement price of the futures contracts of the latest delivery month of the products on the previous trading day ( the relevant costs) / (one (1) + the import VAT rate) ( the consumption tax] / (one (1) + the import duty rate); Benchmark price of the bonded standard warehouse receipt as margins at the settlement= [(the settlement price of the futures contracts of the latest delivery month of the products on the then-current day (the relevant costs) / (one (1) + the import VAT rate)(the consumption tax] / (one (1) + the import duty rate).

In addition to the provisions of the above three paragraphs in this Article, other specific processes of using bonded standard warehouse receipt as margins shall be subject to the relevant regulations of the Measures for Clearing Management of Dalian Commodity Exchange on standard warehouse receipt.

The "relevant costs" in paragraph three (3) of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices.

Section III Bonded EFPs

The Bonded EFPs shall refer to that the trading parties which hold the contracts of the same delivery month file an application to the Exchange on the basis of their negotiated consensus, and shall, after being approved by the Exchange, settle their respective futures positions at the price(s) prescribed by the Exchange and simultaneously carry out the exchange between the payments and the physicals of the equivalent quantity.

Only bonded standard warehouse receipts are allowed for the Bonded EFPs.

The Member shall submit the application for Bonded EFPs before 14:00 on the trading day, whereupon the Exchange shall examine and approve the application within the immediate day of the application.

Before 14:00 of the EFPs application day, the physicals seller Member shall submit the bonded standard warehouse receipt of the corresponding quantity to the Exchange, while the physicals buyer Member shall remit in full amount the delivery payments to the special settlement account of the Exchange, and such payments shall be calculated by the physicals agreed price and include bonded premiums/discounts of the non-benchmark delivery warehouse compared with benchmark delivery warehouse.

Bonded premiums/discounts of the non-benchmark delivery warehouse and benchmark delivery warehouse= premiums/discounts of the non-benchmark delivery warehouse compared with benchmark delivery warehouse / (one (1) + the import VAT rate) / (one (1) + the import duty rate).

The Exchange shall be responsible for handling delivery and receipts and payments of the bonded standard warehouse receipts for Bonded EFPs, and the handling fees will be separately stipulated and announced by the Exchange.

At the settlement of the Bonded EFPs on the approval day, the Exchange shall settle the corresponding contract positions of the parties to the trading in accordance with the trade prices in the application, with the profit or loss incurred thereof calculated into the liquidation profit or loss of the then-current day.

After the closing of the market on the approval day of the Bonded EFPs, the Exchange shall deliver the standard warehouse receipt submitted by the physicals seller Member to the physicals buyer Member, issue to the physicals buyer the Bonded Delivery Settlement Statement as needed for customs declaration with such contents as warehouse name, actual quantity and the delivery settlement price of the Bonded EFPs, and also pay 80% of the payments of the Bonded EFPs delivery goods to the physicals seller Member, with the rest payments to be settled against the physicals seller Member's submission of the VAT common invoice.

The delivery settlement price of the Bonded EFPs = [(the settlement price of the contracts of the latest delivery month of the trading day immediately preceding the Bonded EFPs day( the relevant costs) / (one (1) + the import VAT rate) ( the consumption tax] / (one (1) + the import duty rate)

The "relevant costs" in paragraph two (2) of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and shall be separately announced by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices.

The delivery settlement price of the Bonded EFPs will be used by the customs as the benchmark price for levying import duty and import VAT.

The physicals seller Member shall submit the VAT common invoice to the physicals buyer Member within seven (7) trading days after the approval day of the Bonded EFPs.

Section IV Bonded Delivery Settlement

The bonded delivery settlement for rolling delivery and one-off delivery shall respectively comply with the delivery process stipulated in Chapter III and Chapter IV of the Detailed Delivery Rules of Dalian Commodity Exchange, and the delivery settlement price and the premiums/discounts of non-benchmark delivery warehouse compared with benchmark delivery warehouse will be treated as the basis for calculating the payments of the delivery goods.

After confirmation of the matching results, the buyer Member shall, within one trading day after the matching day, inform the seller Member of the specific matters for issuing dedicated VAT invoice including buyer's name, address, taxpayer's registration number and tax amount according to the requirement of the taxation authority.

The Exchange shall issue to the seller the Bonded Delivery Settlement Statement as needed for customs declaration, which shall include such information as warehouse name, actual quantity, bonded delivery settlement price etc.

The seller shall declare to the customs using the bonded delivery settlement price stated in the Bonded Delivery Settlement Statement as the transaction price, promptly complete the customs declaration procedures, and deliver the dedicated VAT invoice to the buyer within seven (7) trading days after the last delivery day in the one-off delivery or within seven (7) trading days after the matching day in the rolling delivery.

Bonded delivery settlement price = [(the delivery settlement price ( the relevant costs) / (one (1) + the import VAT rate) ( the consumption tax] / (one (1) + the import duty rate)

The "relevant costs" in this paragraph four (4) of this Article shall include the costs and expenses related to the customs clearance, quarantine inspection and agency services of the commodities import and it shall be separately published by the Exchange; the formula shall be applicable to the futures products against which the consumption tax is collected on the basis of their quantity and the customs duty is collected on the basis of their prices.

In case of any adjustment of the national taxation policy, the Exchange shall adjust and promptly publish the calculation formula of the bonded delivery settlement price.

The Exchange shall publish the bonded delivery settlement price for one-off delivery on the last trading day of the contract and the bonded delivery settlement price for rolling delivery on the matching day of rolling delivery of the contract.

Section V Deregistration of Bonded Standard Warehouse Receipt

Deregistration of bonded standard warehouse receipt means the process that a legitimate holder of bonded standard warehouse receipt applies to the Exchange for picking up goods (customs clearance and exit) or for exchange to general bill of lading, and goes through the procedures of withdrawal of bonded standard warehouse receipt from circulation.

Where holders of bonded standard warehouse receipts intend to deregister their bonded standard warehouse receipts, they should handle this via the Members of the Exchange.

When picking up the goods, the owner of the goods shall submit to the bonded delivery warehouse its identity card and the power of attorney from the owner, and meanwhile settle with the bonded delivery warehouse any expense arising from the day immediately after the deregistration day of the bonded standard warehouse receipt to the day of picking up the goods.

The bonded delivery warehouse shall issue to the owner the list of bonded warehouse receipts.

Where the holder of the bonded standard warehouse receipt needs to go through the customs declaration procedures for import of the bonded commodity, it shall comply with the relevant regulations of the customs. The name and quantity of the commodity for customs declaration shall be consistent with the Bonded Delivery Settlement Statement and the list of the bonded warehouse receipts held by the holder.

Chapter V Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Ethylene Glycol Delivery Quality Standard of Dalian Commodity Exchange (F/DCE EG001-2018) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Ethylene Glycol of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

18. Detailed Rules of Polished Round-grained Rice Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Polished Round-grained Rice Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Polished Round-grained Rice Futures Contract of Dalian Commodity Exchange for the purpose of regulating the trading of polished round-grained rice futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for, the quality discounts and/or premiums of and the requirements for packing material of standard deliverable products and substitutes under the polished round-grained rice futures contract are detailed in the Polished Round-grained Rice Delivery Quality Standards of Dalian Commodity Exchange (F/DCE RR001-2019) as Annex 1 attached hereto.

The polished round-grained rice futures contract shall take the form of physical delivery.

The delivery warehouses designated for polished round-grained rice shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Polished Round-grained Rice of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the polished round-grained rice futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the polished round-grained rice futures contract is 10 MT/Lot.

The price quote unit of the polished round-grained rice futures contract is CNY/MT.

The minimum tick size of the polished round-grained rice futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the polished round-grained rice futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the polished round-grained rice futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the polished round-grained rice futures contract is the tenth trading day of the contract month.

The last delivery day of the polished round-grained rice futures contract is the third trading day after the last trading day.

The ticker symbol of the polished round-grained rice futures contract is RR.

Chapter III Delivery and Clearing

Section I General Provisions

The polished round-grained rice futures contract may apply the exchange of futures for physicals delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

The standard warehouse receipt of the polished round-grained rice shall be categorized into the standard warehouse receipt of storage warehouse and the standard factory warehouse receipt.

The differences of the polished round-grained rice futures contract discounts and/or premiums shall be settled between the owner and the designated delivery warehouse.

The net weight per bag of the polished round-grained rice shall be 25±0.2 kilogram. The actual aggregate delivery net weight shall be no less than the aggregate weight of the products referred in the standard warehouse receipt, and the surplus will not be counted in.

The prices of the packages are included in the polished round-grained rice futures contract prices.

The dedicated VAT invoice shall be issued for delivery of polished round-grained rice.

The delivery commissions, the sampling and inspection fees, the storage and dissipation fees and other fees of Polished Round-grained Rice shall be separately published by the Exchange.

The delivered polished round-grained rice shall meet the requirements set in the relevant state regulations regarding quarantine, food safety and others, and the procedures stipulated in the relevant State regulations shall be followed.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY ten (10) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, prior to three (3) days before loading-in, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of polished round-grained rice shall be subject to the weighting by the designated delivery warehouse through the measurement of wagon balance or rail weighbridge of the designated delivery warehouse, and the weight of packages shall be excluded. After checking the number of the sacks of the goods, the designated delivery warehouse shall calculate the net weight of the polished round-grained rice loaded in less 0.08 kilogram per sack. The net weight of polished round-grained rice loaded in shall be no less than the commodity weight registered as the standard warehouse receipt.

The designated delivery warehouse shall engage an inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The owner shall notify the designated delivery warehouse of the packaging specifications, arrival method, arrival quantity, arrival time three (3) calendar days prior to loading the commodities in the warehouse. After receiving such notice from the owner, the designated delivery warehouse shall notify to the designated inspection agency the aforementioned information and specify such information in the quality inspection agreement. The quality inspection agreement shall also provide for, among others, the day and night operation costs, the inspection quantity, the estimated time on issuing the inspection report and the liability of the designated inspection agency due to its failure to timely arrive at the site. The inspection fees shall be borne by the owner and delivered by the designated delivery warehouse.

The loading-in sampling of polished round-grained rice can be conducted before or after loading-in stacking; and in the event that the already delivered commodities continue to be delivered at the original designated delivery warehouse, sampling may be carried out by opening the stack, shifting the stack and other means. The inspection of polished round-grained rice shall be carried out in batches of the same manufacturer and the same brand, and each batch contains 300 ton. The commodities in excess of 300 ton shall be divided into several batches and those less than 300 ton shall be inspected as a batch. The sampling quantity for each batch are detailed in the Polished Round-grained Rice Delivery Quality Standards of Dalian Commodity Exchange (F/DCE RR001-2019) as Annex 1 attached hereto.

After completing the quality inspection of polished round-grained rice, the inspection agency designated by the Exchange shall issue one (1) original and three (3) duplicate inspection reports. The original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively delivered to the Exchange and the owner.

The designated delivery warehouse shall check the relevant materials and certificates regarding the manufacturer, place of origin, manufacturing date and others of the loaded-in commodities subject to the applicable provisions of the Exchange.

The manufacturing date of polished round-grained rice shall be no earlier than the forty fifth (45th) calendar day prior to the date of application for registration of the standard warehouse receipt application.

The deregistration of standard warehouse receipts shall be carried out against the standard warehouse receipts of the polished round-grained rice prior to the last delivery day (inclusive) of each delivery month.

When the polished round-grained rice is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection over the quality of the commodities to be loaded out of the warehouse, it shall firstly negotiate with the warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days after the standard warehouse receipt is deregistered and if the commodities have not been loaded out of the warehouse, file to the Exchange in writing an application for re-inspection. Such application shall indicate the name of the warehouse, stack location, quantity, quality index of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection, and the re-inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result of the sample is in conformity with the inspection result confirmed by the warehouse, the relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the owner; otherwise, relevant fees (including but not limited to the inspection fees, traveling expenses) as well as any losses incurred thereby shall be borne by the warehouse.

When the polished round-grained rice is loaded out from the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

When the polished round-grained rice is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samples shall be sealed after being confirmed by both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days following the consignment date, file in writing an application for re-inspection with the Exchange. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the re-inspection result shall be the basis for any dispute settlement. Where there is no provision herein, the relevant provisions of Article 35 hereof shall be applicable by reference.

When a factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to transportation capability limitations or other reasons, the owner shall pay to the factory warehouse the late fee. The late fee is calculated as follows:

from the commencement date of picking-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the completion date of picking-up period(exclusive), the aggregate late fee owed to the factory warehouse by owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall nevertheless assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee is calculated as follows:

from the expiration date of picking- up period (inclusive), the late fee for each day shall be the product of the commodity amount that should have been picked up on that day and the corresponding late fee standard; and

as of the completion date of picking-up period (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the deregistration date (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days.

Where the factory warehouse fails to consign commodities as per the required daily consignment speed but completes the consignment of all the commodities on time, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which should have been consigned as per the required daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 40 hereof. Amount of such compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

the Exchange shall provide to the owner the physical commodities of the same quality and quantity in other factory warehouses or other places and shall bear all the costs and expenses arising out of or in connection with change of delivery site and the delayed consignment; or

where the Exchange fails to provide the abovesaid commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 120%

In the event of any default of the factory warehouse described in Article 40 and Article 41 above, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on the date of promulgation.

Annex 1: Polished Round-grained Rice Delivery Quality Standard of Dalian Commodity Exchange (F/DCE RR001-2019) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Polished Round-grained Rice of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

19. Detailed Rules of Ethenylbenzene Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Ethenylbenzene Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Ethenylbenzene Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of ethenylbenzene futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards for the standard deliverable products under the ethenylbenzene futures contracts shall be detailed in the Ethenylbenzene Delivery Quality Standards of Dalian Commodity Exchange (F/DCE EB001-2019) as Annex 1 attached hereto.

The ethenylbenzene futures contract shall take the form of physical delivery.

The delivery warehouses designated for ethenylbenzene shall be categorized into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Ethenylbenzene of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the ethenylbenzene futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the ethenylbenzene futures contract is 5 MT/Lot.

The price quote unit of the ethenylbenzene futures contract is CNY/MT.

The minimum tick size of the ethenylbenzene futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the ethenylbenzene futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the ethenylbenzene futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the ethenylbenzene futures contract is the last but three trading day of the contract month.

The last delivery day of the ethenylbenzene futures contract is the third trading day after the last trading day.

The ticker symbol of the ethenylbenzene futures contract is EB.

Chapter III Delivery and Clearing

Section I General Provisions

The ethenylbenzene futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange except stipulated otherwise in the Detailed Rules in addition to the applicable provisions of the Detailed Rules.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

In case the application for EFPs is submitted, in addition to submitting the information and materials related to EFPs as required in the Measures for Trading Management of Dalian Commodity Exchange, the parties to the transaction shall both provide legal and valid qualification certificate for manufacturing, operating or using of ethenylbenzene.

When participating in the rolling delivery and one-off delivery, the client shall submit legal and valid qualification certificate for manufacturing, operating or using ethenylbenzene to the Exchange through the Member prior to 14:30 of the handover day. If the client fails to submit within the time period stipulated, it shall be deemed not qualified for manufacturing, operating and using ethenylbenzene, and the applicable provisions in the Measures for Delivery Management of Dalian Commodity Exchange shall apply.

When processing transfer of the standard warehouse receipts, the parties to the transaction shall both submit legal and valid qualification certificate for manufacturing, operating and using ethenylbenzene to the Exchange through the Member during the application procedure of the standard warehouse receipts transfer.

The delivery settlement price of one-off delivery shall be the weighted average price of all trade prices of the futures contract in the last ten (10) trading days of the delivery month; in case the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof.

The delivery unit of ethenylbenzene futures contract shall be five (5) tons.

The standard warehouse receipt of the ethenylbenzene can be categorized into the standard storage warehouse receipt and the standard factory warehouse receipt.

The dedicated VAT invoice shall be issued for delivery of ethenylbenzene.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Ethenylbenzene shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

In the event of application for futures delivery of the commodities that are already stored in the warehouse, there is no need to consign commodities to the warehouse in which they are stored.

The owner which has fully completed the notice of intent to deliver shall notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information three (3) calendar days prior to loading the commodities in the warehouse, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The receiving and consigning weights of the ethenylbenzene shall be subject to the weighting by the designated delivery warehouse through measurement of wagon balance for automobile transport; or through storage tank ruler-metering for train or vessel transport, which shall be conducted by the Exchange-designated quality inspection agency engaged by the designated delivery warehouse. The inspection costs shall be borne by the owner and forwarded by the designated delivery warehouse.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The designated delivery warehouse shall notify the designated quality inspection agency of the arrival method, the arrival quantity, the arrival time and other relevant information three (3) calendar days prior to the commodities being loaded in the warehouse. The inspection costs shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

For ethenylbenzene stored in futures and spot mixed tanks, the designated delivery warehouse shall ensure that the whole tank of goods meets the quality standards for futures delivery.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the loading-in ethenylbenzene, issue one (1) original and three (3) duplicate inspection reports. The original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

In case that the owner or the designated delivery warehouse has any objection over the inspection result of the commodity inspection report, it shall file a written application for re-inspection with the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, the number of the storage tank (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be borne by the party raising the dispute.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the ex-factory inspection report, the certificate of place of origin and other relevant materials and certificates of the commodities loaded in the warehouse, and the owner's qualification for manufacturing, operating and using ethenylbenzene.

The deregistration of the standard warehouse receipts shall be carried out against the standard warehouse receipts of the ethenylbenzene prior to the last trading day (inclusive of the last trading day) of each delivery month.

When the ethenylbenzene is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within five (5) working days (inclusive of the fifth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have been delivered but have not been loaded out of the warehouse. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, the number of the storage tank (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the re-inspection result shall be the basis for settlement of the dispute. The owner shall, before 12: 00 of the second calendar day following the day of applying for re-inspection, advance to the designated quality inspection agency entrusted by the Exchange. If the owner fails to advance the re-inspection fees within the prescribed period, it shall be deemed to have no objection over quality of the loaded-out commodities when they are loaded out of warehouse. If the re- inspection result is in conformity with the delivery quality standards, the relevant fees and expenses (including but not limited to inspection fees, traveling expenses, storage fees) incurred thereby shall be borne by the owner; if not, such fees and expenses (including but not limited to inspection fees, traveling expenses, storage fees) shall be borne by the warehouse.

When the ethenylbenzene is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The factory warehouse shall consign the goods subject to the delivery quality standards as required by the contract, and issue to the owner the certificate of place of origin or the ex-factory inspection report and other relevant materials and certificates of the sources and quality of the goods.

When the ethenylbenzene is loaded out of the factory warehouse, the factory warehouse shall carry out the sampling under the owner's supervision, and the samplings shall be sealed after being confirmed by both parties and shall be preserved for twenty (20) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within five (5) working days (exclusive of the then-current day) after the samples are sealed by it according to the preceding provisions, file in writing an application for re-inspection with the Exchange. The re-inspection of the reserved samples shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result of the samples shall be the basis for settlement of the dispute. Where there is no provision herein, the relevant provisions of Article 33 hereof shall be applicable by reference.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the nineteenth day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 38 of the Detailed Rules, compensate the owner, and the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 38 or 39 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such violation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

When the ethenylbenzene is loaded out of the warehouse, the designated warehouse shall inspect the owner's qualification for manufacturing, operating and using of ethenylbenzene and the transportation qualification of the corresponding carrier.

Chapter V Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force from the date of promulgation.

Annex 1: Ethenylbenzene Delivery Quality Standard of Dalian Commodity Exchange (F/DCE EB001-2019) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Ethenylbenzene of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

20. Detailed Rules of Liquefied Petroleum Gas Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Liquefied Petroleum Gas Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Liquefied Petroleum Gas Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of liquefied petroleum gas futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Principle Terms of the Contract and Relevant Parameters

The quality standards and quality premiums / discounts for the standard deliverable products and the substitutes under the liquefied petroleum gas futures contracts shall be detailed in the Liquefied Petroleum Gas Delivery Quality Standard of Dalian Commodity Exchange (F/DCE PG001-2020) as Annex 1 attached hereto.

The liquefied petroleum gas futures contract shall take the form of physical delivery.

The delivery warehouses designated for liquefied petroleum gas shall be categorized into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Liquefied Petroleum Gas of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the liquefied petroleum gas futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the liquefied petroleum gas futures contract is 20 MT/Lot.

The price quote unit of the liquefied petroleum gas futures contract is CNY/MT.

The minimum tick size of the liquefied petroleum gas futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the liquefied petroleum gas futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the liquefied petroleum gas futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the liquefied petroleum gas futures contract is the last but three trading day of the contract month.

The last delivery day of the liquefied petroleum gas futures contract is the third trading day after the last trading day.

The ticker symbol of the liquefied petroleum gas futures contract is PG.

Chapter III Delivery and Clearing

Section I General Provisions

The liquefied petroleum gas futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

The rolling delivery and the one-off delivery shall only be carried out by the standard warehouse receipt delivery.

In case the application for EFPs is submitted, in addition to the information and materials related to EFPs as required in the Measures for Trading Management of Dalian Commodity Exchange, the parties to the transaction shall also provide legal and valid qualification certificates for manufacturing, operating or using liquefied petroleum gas.

When participating in the rolling delivery and one-off delivery, the client shall submit legal and valid qualification certificate for manufacturing, operating or using liquefied petroleum gas to the Exchange through the Member prior to 14:30 of the handover day. If the client fails to submit within the time period stipulated, it shall be deemed not qualified for manufacturing, operating and using liquefied petroleum gas, and the applicable provisions in the Measures for Delivery Management of Dalian Commodity Exchange shall apply.

When processing transfer of the standard warehouse receipts, the parties to the transaction shall both submit legal and valid qualification certificates for manufacturing, operating and using liquefied petroleum gas to the Exchange through the Member during the application procedure of the standard warehouse receipts transfer.

The delivery settlement price of one-off delivery shall be the weighted average price of all trade prices of the futures contract in the last ten (10) trading days of the delivery month; in case the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof.

The delivery unit of liquefied petroleum gas futures contract shall be twenty (20) tons.

The standard warehouse receipt of liquefied petroleum gas shall be the standard factory warehouse receipt.

The price differences of the quality premiums / discounts of the liquefied petroleum gas futures contract shall be settled between the owner of commodities and the designated delivery warehouse.

The actual aggregate delivery net weight under the liquefied petroleum gas futures contract shall be no less than the aggregate weight of the commodities under the standard warehouse receipts.

The dedicated VAT invoice shall be issued for delivery of liquefied petroleum gas.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Liquefied Petroleum Gas shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration and other relevant matters of the standard warehouse receipts, if not provided in the Detailed Rules.

The deregistration of the standard warehouse receipts shall be carried out against the standard warehouse receipts of liquefied petroleum gas prior to the last trading day (inclusive of the last trading day) of each March and September.

When the liquefied petroleum gas is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within seven (7) calendar days (inclusive of the seventh calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within seven (7) calendar days (inclusive of the seventh calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

The factory warehouse shall consign the commodities subject to the delivery quality standards as required by the contract, and issue to the owner the quality certificate that meets the requirements of the Exchange as the basis for settlement of the quality premiums and discounts.

The owner has the right to decide whether to carry out the samplings for the commodities loaded out of the factory warehouse on each day, and shall inform the factory warehouse in writing two (2) calendar days prior to the loading-out. If the samplings cannot be carried out due to any reason attributable to the owner, it will be deemed that the owner has chosen not to conduct the samplings.

If the owner chooses to carry out the samplings, the owner shall engage a designated quality inspection agency to carry out the samplings and pay the corresponding fees two (2) calendar days prior to the daily loading-out. The designated quality inspection agency shall carry out the samplings of the commodities on site on the loading-out day, and the samples shall be sealed after being confirmed by the owner and the factory warehouse, and shall be preserved until the third trading day (inclusive of the third trading day) after the day when the samples are sealed (exclusive of the then-current day), serving as the basis for handling any quality dispute; if the owner chooses not to carry out the samplings, the owner shall be deemed to have no objection on the quality of the loading-out commodities.

The designated quality inspection agency shall carry out the samplings at the sampling points of the factory warehouses recognized by the Exchange, and each client shall not carry out more than three (3) samplings per day.

If the owner has any objection over the quality of the commodities loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall file a written application for inspection of the samples within two (2) trading days after the samples are sealed (excluding the then-current day). The application for inspection shall indicate the commodity quantity and the quality index, leave the contact information and be affixed with the official seal of the owner. If the application for inspection of the samples is not filed in a prescribed manner within the prescribed period, it shall be deemed that the owner has no objection over the quality of the commodities loaded out of the factory warehouse. The inspection over the reserved samples shall be carried out by the quality inspection agency entrusted by the Exchange, and the inspection result of a single quality index shall be the average of the inspection result on such index of all samples on the sampling day. The inspection costs shall be advanced by the owner. If the re-inspection result is in conformity with the inspection result confirmed by the factory warehouse, the relevant fees (including but not limited to the sampling fees, inspection fees, storage expenses) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the sampling fees, inspection fees, storage expenses) as well as any losses incurred thereby shall be borne by the factory warehouse. Where the re-inspection result is in conformity with the deliverable grade determined by the factory warehouse, the sampling fees, inspection fees, storage charges and other relevant fees incurred thereby shall be borne by the owner; where the re-inspection result is not in conformity with the deliverable grade determined by the factory warehouse but meets the delivery quality standards, the factory warehouse shall settle the quality premiums /discounts with the owner based on the sampling inspection result, and the sampling fees, inspection fees, storage charges and other relevant fees as well as any losses incurred thereby shall be borne by the factory warehouse; where the re-inspection result is not in conformity with the delivery quality standards, the parties shall firstly settle the dispute through negotiation. If such negotiation fails, the sampling fees, inspection fees, storage charges and other relevant fees as well as any losses incurred thereby shall be borne by the factory warehouse. If the re-inspection result is in conformity with the delivery grade determined by the factory warehouse, the commodities shall be delivered normally, and the factory warehouse shall settle the quality premiums /discounts with the owner based on the sampling inspection result.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 6/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiration day) and within twenty seven (27) calendar days (inclusive of the twenty-seventh day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be determined according to the following methods:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = CNY 6/Ton*Day.

If the owner picks up the commodities at the factory warehouse after twenty seven (27) calendar days (exclusive of the twenty-seventh day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 6/Ton*Day × Quantity of all the commodities × 27 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 34 herein, compensate the owner, and the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 120%

In the event of any violation by the factory warehouse described in Article 34 or 35 herein, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such situation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

When the liquefied petroleum gas is loaded out of the factory warehouse, the designated delivery warehouse shall check the owner's qualification for manufacturing, operating or using liquefied petroleum gas and the transportation qualification of the carrier.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures Against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force from the date of promulgation.

Annex 1: Liquefied Petroleum Gas Delivery Quality Standard of Dalian Commodity Exchange (F/DCE PG001-2020) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Liquefied Petroleum Gas of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

21. Detailed Rules of Live Hog Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Live Hog Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Live Hog Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of live hog futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated FOT delivery sites, the designated quality inspection agencies, the designated futures margin depository banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The quality standards and quality premiums and discounts for the standard deliverable products and the substitutes under the live hog futures contract are detailed in the Live Hog Delivery Quality Standard of Dalian Commodity Exchange (F/DCE LH001-2021) as Annex 1 attached hereto.

The live hog futures contract shall take the form of physical delivery.

The delivery warehouses designated for live hog, the designated FOT delivery sites and the relevant premiums and discounts shall be determined by the Exchange (detailed in the List of Designated Delivery Warehouses and Designated FOT Delivery Sites for Live Hogs of Dalian Commodity Exchange as Annex 2 attached hereto), and the Exchange may make adjustments as the case may be.

The sub-warehouses of the live hog group delivery warehouses or non-group delivery warehouses are qualified as designated FOT delivery sites.

The contract months of the live hog futures contract are January, March, May, July, September and November.

The trading unit of the live hog futures contract is 16 MT/ Lot.

The price quote unit of the live hog futures contract is CNY/MT.

The minimum tick size of the live hog futures contract is 5 CNY/MT.

The maximum quantity of orders placed each time for the live hog futures contract shall be fifty (50) lots.

The standard of trading margins, price limit range and position limit under the live hog futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the live hog futures contract is the last but three trading day of the contract month.

The last delivery day of the live hog futures contract is the third trading day after the last trading day.

The ticker symbol of the live hog futures contract is LH.

Chapter III Risk Management

During the trading of live hog futures, the Exchange may take emergency measures to mitigate risks if any of the following circumstances occurs:

there are grounds to believe that there are violations of laws and regulations such as manipulating futures trading prices that have or will have a material effect on the market;

a major epidemic of live hogs occurs, or a certain proportion of the designated delivery warehouses and the designated FOT delivery sites suspend their delivery business; or

there are changes in laws and policies related to live hogs that have or will have a material effect on the operation of live hog futures.

In the case of the preceding paragraph, the Chief Executive Officer of the Exchange may take measures such as adjusting the opening and closing time of the market, suspending trading, adjusting the trading hours, suspending the listing of new contracts, adjusting the price limit range, adjusting the trading margins, adjusting the premium/discount, suspending position opening, close-out within designated time limit, terminating the trading, adjusting the specific dates of contract such as the last trading day, the last delivery day and the handover day, adjusting the registration and deregistration dates of the standard warehouse receipts, adjusting the delivery time, place and method, adjusting, suspending or terminating delivery-related business, and may implement such measures on listed contracts.

In the case where termination of trading is adopted, the Exchange may, at the settlement on the then-current day of termination of trading, liquidate the positions of all or part of the contract months. The liquidation price shall be the volume-weighted average price of all trade prices of the contract liquidated from the ten (10) trading days before the trading termination day to the then-current day (inclusive of the then-current day). If there is less than ten (10) trading days, the liquidation price shall be the volume-weighted average price of all trade prices of the contract liquidated on all trading day; the Exchange may also use adopt other liquidation prices.

For live hog futures contracts, the Exchange may adjust the price limit range on one direction or both directions, in the same proportion or in different proportions, in accordance with relevant rules; and may adjust the trading margins on one direction or both directions, in the same proportion or in different proportions, for part or all of the Members, in accordance with relevant rules.

Chapter IV Delivery and Clearing

Section I General Provisions

The live hog futures contract applies the exchange of futures for physicals (the "EFP") delivery, the rolling delivery and the one-off delivery.

The EFPs for live hog futures contracts shall only be applied through physicals other than standard warehouses receipts.

The rolling delivery may be taken in the form of the standard warehouse receipt delivery or the FOT delivery.

The one-off delivery can only be taken in the form of the standard warehouse receipt delivery.

In addition to the provisions of this Detailed Rules, the EFP delivery, the rolling delivery and the one-off delivery of live hogs shall be conducted in accordance with the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

For those participating in rolling delivery, if the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site; if delivery of the futures live hog is normally completed, the Exchange shall refund the seller Member's delivery margin and make eighty percent (80%) of the payments for goods to the seller Member after the market close on the sixth (6) trading day following the handover day, and the remaining payments shall be fully settled after the seller Member delivers the VAT common invoice; within seven (7) trading days after the Exchange make eighty percent (80%) of the payments for goods, the seller Member shall deliver the VAT common invoice corresponding to the actual delivered goods to the buyer Member.

The delivery settlement price of the one-off delivery shall be the weighted average price of all trade prices during the last ten (10) trading days of the delivery month under the futures contract; if the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all trade prices as of the first trading day through the last trading day of the delivery month under the futures contract.

The delivery of live hogs shall comply with national and local regulations and requirements on live hog epidemic prevention and quarantine. Live hogs delivered shall have the animal quarantine certificate.

The transportation vehicle for live hogs shall be arranged by the owner in case of standard warehouse receipt delivery or buyer in case of FOT delivery and shall be filed with relevant state authorities. The transportation of live hogs shall comply with relevant national and local regulations and requirements.

The delivery unit of the live hog futures contract is 16 MT.

The live hog standard warehouse receipt is the standard factory warehouse receipt.

The quality inspection of live hogs shall be carried out in batches of 16±1 MT, and the inspection of live hogs that does not reach such standard shall be carried out in one batch.

During the holidays specified by the State Council (including adjusted working days and consecutive holidays) and the weekends immediately before and after such holidays, the designated delivery warehouses and designated FOT delivery sites will suspend the handover of goods. As a result, if the declaration for quarantine and the handover of goods cannot be completed on a continuous basis, the relevant business will be postponed. Relevant business on other weekends shall stay normal.

In case of the standard warehouse receipt delivery, the quality premium/discount price difference of the live hog futures contract shall be settled by the owner with the designated delivery warehouse; in case of the FOT delivery, the quality premium/discount price difference of the live hog futures contract shall be settled by the buyer and the seller on the spot, or the seller may engage a designated FOT delivery site to carry out the settlement on its behalf.

The VAT common invoices shall be issued for the live hog delivery.

The delivery commissions, inspection fees and storage fees of the Live Hog shall be separately stipulated and published by the Exchange. The cleaning and sterilization fees for live hog transportation vehicles and related pick-up personnel shall be subject to a maximum price limit, which shall be separately stipulated and published by the Exchange.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The live hog standard warehouse receipts which are used for the delivery matching shall be deregistered immediately after the market close on the handover day and after the Exchange has transferred the standard warehouse receipts delivered by the seller to the corresponding matched buyer within that day, except for failure on transfer of the standard warehouse receipts due to the live hog pandemic.

The standard warehouse receipts which are not used for the delivery matching shall be deregistered before the last delivery day (inclusive of such day) of each delivery month.

The owner of the goods shall arrive at the factory warehouse on the second (2) calendar day after the deregistration date of the standard warehouse receipt (exclusive of the deregistration date) and start to prepare for the pick-up of goods (the date being the first "Specified Arrival Date"). In the case of multi-days pick-up, the owner shall arrive at the factory warehouse on multiple consecutive days (the dates being the second, third to the Nth Specified Arrival Date and so on).

The owner shall contact the factory warehouse three (3) calendar days before each Specified Arrival Date, and the factory warehouse shall provide the owner with the scope of transportation destination in line with the provisions of live hog dispatching and transportation on the same day. Where the scope of transportation destination cannot be provided, it shall be deemed that the factory warehouse is unable to deliver the goods in accordance with the provisions. The owner may negotiate with the factory warehouse to expand the scope of transportation destination in line with the provisions of live hog dispatching and transportation. Where the scope of transportation destination changes, the factory warehouse shall notify the owner in time.

The owner shall provide relevant information for issuing the animal quarantine certificate on the second (2) calendar day prior to each Specified Arrival Date, including the specific place of arrival, filing information of live hog transportation vehicles, carrier and purpose of use, etc. If the owner fails to provide information on time or the live hog transportation vehicle provided is not properly filed, it shall be deemed that the owner is unable to pick up the goods.

The factory warehouse shall, according to the above information provided by the owner, apply for quarantine inspection to the relevant state authorities.

The owner shall arrange the live hog transportation vehicles matching the weight of live hogs to be delivered to arrive at the cleaning and sterilization place of the factory warehouse on the Specified Arrival Date. The owner is deemed to arrive at the factory warehouse at the time when the live hog transportation vehicles arrive at the cleaning and sterilization place.

If the live hog transportation vehicles that arrive at the cleaning and sterilization place or the carrier does not match with the information provided by the owner for issuing the animal quarantine certificate, it shall be deemed that the owner has not arrived at the factory warehouse.

If the owner, after arrival at the factory warehouse, cannot start to pick up the goods within two (2) calendar days after the Specified Arrival Date due to malfunction of the live hog transportation vehicles, it shall be deemed that the owner is unable to pick up the goods.

The owner may negotiate with the factory warehouse to change the live hog transportation vehicles and reapply for the quarantine.

The live hog transportation vehicles and related pick-up personnel shall be cleaned and sterilized at the owner's expense as required by the factory warehouse.

The designated quality inspection agency shall arrive on site at the time required by the Exchange to carry out the inspection of live hogs. If the designated quality inspection agency is unable to be present on time, it shall notify the Exchange in a timely manner. The Exchange may, as the case may be, engage the designated quality inspection agency to carry out the inspection by remote video or other means recognized by the Exchange.

Where the owner fails to arrive at the factory warehouse on the Specified Arrival Date, the following provisions shall apply:

if the owner arrives at the factory warehouse within two (2) calendar days after the Specified Arrival Date, the factory warehouse shall arrange the consignment of the goods. The consigned live hogs shall still comply with the requirement of the delivery quality standards. Where the individual weight and average weight are higher than the upper limit required for standard products, the factory warehouse needs not to pay corresponding discounts; where the individual weight and average weight are lower than the lower limit required for standard products, the factory warehouse needs to pay the corresponding discounts; or

if the owner fails to arrive at the factory warehouse within two (2) calendar days after the Specified Arrival Date, it shall be deemed that the owner is unable to pick up the goods.

The excess and shortage of live hogs shall not exceed ± one (1) MT per delivery unit. For the insufficient or surplus amount, the factory warehouse and the owner shall settle the corresponding payment by themselves.

Payment = (Price of the live hogs + premium/discount between the non-benchmark delivery warehouse and the benchmark delivery warehouse + average weight premium/discount) × Excess or shortage weight

The weight of live hogs shall be subject to the measurement by weighbridge of factory warehouse or other weight inspection equipment recognized by the Exchange. If the weighing is conducted with the vehicle driving over the weighbridge, the vehicle chosen by the owner shall be used for weighing.

The appearance and individual weight of live hogs shall be inspected during the loading process. During the loading process, the owner can apply for inspection if the appearance or individual weight of a live hog is considered not meeting the requirements of the standard product through visual inspection. If the owner's claim is accepted by the factory warehouse, it shall be handled according to the owner's claim; if not, the quality inspection agency designated by the Exchange shall be responsible for inspection and the inspection result shall be regarded as the basis of settlement. Live hogs meeting the requirements for the standard deliverable products and substitutes shall be loaded normally. The factory warehouse shall actively cooperate in the inspection. If the inspection cannot be carried out due to the factory warehouse, it shall be handled according to the owner's claim.

Within one inspection batch, if the owner applies for the appearance inspection and the standard product requirements are met for two (2) cumulative times through inspection, the owner shall not apply for the inspection on the appearance of other live hogs in such inspection batch, and the appearance of these live hogs shall be deemed as consistent with the standard products. If the owner applies for the inspection of the individual weight, and the requirements of the standard products are met for two (2) cumulative times through inspection, then the owner shall not apply for inspection of the individual weight of other live hogs in such inspection batch, the individual weight of such live hogs is deemed as consistent with the standard products.

The designated quality inspection agency shall record the weight and number of the live hogs properly and calculate the average weight of live hogs in the same inspection batch.

The live hogs loaded out of the warehouse shall have been quarantined. If the live hogs pass the quarantine, the factory warehouse shall hand over the animal quarantine certificate before the live hogs are loaded out of the warehouse. If the live hogs fail to pass the quarantine and the animal quarantine certificate cannot be issued, it shall be deemed that the factory warehouse is not able to consign the goods in accordance with the provisions, and the unqualified live hogs shall be disposed of in accordance with relevant provisions of the state.

Once the live hogs conforming to the quality standard for futures delivery are loaded into the live hog transportation vehicles of the owner and the factory warehouse delivers the animal quarantine certificate to the owner, delivery of the futures live hog is deemed completed, and thus the handover of goods is completed and the ownership of goods is transferred. The risk of injury or loss of live hogs shall be borne by the factory warehouse before delivery of the futures live hog and by the owner after the delivery.

If the owner arrives at the factory warehouse on the Specified Arrival Date, the factory warehouse shall, within 48 hours after the owner arrives at the factory warehouse, complete delivery of the futures live hog according to the relevant provisions on daily consignment speed.

Where a live hog dies after being loaded into a transportation vehicle, the dead live hog shall not leave the factory warehouse and shall be disposed of in accordance with relevant provisions of the state.

The owner shall actively cooperate with the factory warehouse in arranging the loading of the live hogs out of the factory warehouse. If the factory warehouse cannot deliver the live hogs normally due to the malicious delay or obstruction of the owner as determined by the Exchange, the owner shall be deemed failed to complete the pick-up for the live hogs that have not been loaded out of the warehouse.

If the owner fails to pick up the goods, the factory warehouse shall dispose of the live hogs which shall be picked up but are not picked up and make the corresponding payments to the owner within fifteen (15) calendar days after the Specified Arrival Date.

Payment = (Price of the live hogs×80% + premium/discount between the non-benchmark delivery warehouse and the benchmark delivery warehouse) × Weight of live hogs that shall be picked up but are not picked up

Where the factory warehouse fails to consign the goods according to the required daily consignment speed but timely completes the consignment of all live hogs, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Weight of the live hogs which shall be, but fail to be consigned according to the daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the goods on time, the factory warehouse shall, in addition to the compensation provided in the Article 47 of the Detailed Rules, compensate the owner, the amount of such compensation= One-off delivery settlement price of the last delivery month of such commodity × Weight of the live hogs which shall be, but fail to be consigned × 5%; the following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical live hogs of the same quality and weight of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; or

where the Exchange fails to supply the above goods, the Exchange shall refund to the owner the payment of the goods and compensate the owner.

Amount of refunded payment of goods and compensation = (One-off delivery settlement price of the last delivery month of such commodity × 120% + premium/discount between the non-benchmark delivery warehouse and the benchmark delivery warehouse) × Weight of the live hogs which shall be, but fail to be consigned.

In the event of any violation by the factory warehouse provided in the Article 47 or 48 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, it shall be handled by the Exchange according to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

If the owner believes that force majeure has caused it to be unable to arrive at the factory warehouse on the Specified Arrival Date, or the factory warehouse believes that force majeure has caused it to be unable to deliver the live hogs futures, the owner or the factory warehouse shall report to the Exchange in time and the handover of goods shall be stopped.

If an event constitutes force majeure as determined by the Exchange, the factory warehouse shall refund the corresponding payment to the owner within fifteen (15) calendar days after the Specified Arrival Date. Payment = (Price of the live hogs + premium/discount between the non-benchmark delivery warehouse and the benchmark delivery warehouse) × Weight of corresponding live hogs. Where it does not constitute force majeure, it shall be deemed that the owner is unable to pick up the goods or the factory warehouse is unable to consign the goods in accordance with the relevant provisions.

For the purpose of this Article, force majeure includes any objective condition that is unforeseeable, unavoidable and insurmountable, such as bad weather, flood, earthquake, mud-rock flow and other natural disasters, and change in regulations or policies, etc.

The owner and the factory warehouse may negotiate separately to determine the consignment time and speed instead of following the relevant rules of the Exchange, in which case the Exchange will not be responsible for the goods. The owner and the factory warehouse shall confirm in writing the consignment time and speed which they have determined through negotiation, and keep the relevant certifying documents properly for verification.

The Price of the live hogs and the premium/discount between non-benchmark delivery warehouse and benchmark delivery warehouse as provided in the Articles 38, 46 and 50 of this Chapter shall be the current-month contract settlement price on the deregistration date of the standard warehouse receipt and corresponding premium/discount. If the current-month contract has been delisted on the deregistration date of the standard warehouse receipt, the delivery settlement price of the one-off delivery of the current-month contract and the corresponding premium/discount shall apply; if the current month is not a contract month, the delivery settlement price of the one-off delivery of the previous contract month and the corresponding premium/discount shall apply.

Section III FOT Delivery

The maximum daily delivery quantity of each designated FOT delivery site shall be prescribed by the Exchange (detailed in the List of Designated Delivery Warehouses and Designated FOT Delivery Sites for Live Hogs of Dalian Commodity Exchange as Annex 2 attached hereto).

The live hogs used for the FOT delivery by the seller shall be the live hogs bred in the designated FOT delivery site corresponding to the seller's delivery application. At the time of the FOT delivery, the designated FOT delivery site shall, on behalf of the seller, perform the delivery obligation of futures live hogs to the buyer. If the designated FOT delivery site fails to perform such obligation or fails to comply with the provisions, the seller shall bear the corresponding liabilities.

The buyer shall arrive at the designated FOT delivery site on the second (2) calendar day following the handover day (i.e., the Specified Arrival Date) and start to prepare for the pick-up of goods.

The buyer shall contact the designated FOT delivery site on the third (3) calendar day before the Specified Arrival Date, and the designated FOT delivery site shall provide the buyer with the scope of transportation destination in line with the provisions of live hog dispatching and transportation on the same day. Where the scope of transportation destination cannot be provided, it shall be deemed as the seller's delivery default. The buyer may negotiate with the designated FOT delivery site to expand the scope of the transportation destination in line with the provisions of live hog dispatching and transportation. Where the scope of transportation destination changes, the designated FOT delivery site shall notify the buyer in time.

The buyer shall provide relevant information for issuing animal quarantine certificate on the second (2) calendar day before the Specified Arrival Date, including the specific transportation arrival place, filing information of live hog transportation vehicle, carrier, purpose, etc. If the buyer fails to provide such information on time or the live hog transportation vehicle provided is not properly filed, it shall be deemed that the buyer is unable to pick up the goods.

The designated FOT delivery site shall, according to the above information provided by the buyer, apply for quarantine inspection to the relevant state authorities.

The buyer shall arrange the live hog transportation vehicles matching the weight of live hogs to be delivered to arrive at the cleaning and sterilization place of the designated FOT delivery site on the Specified Arrival Date. The buyer is deemed to arrive at the designated FOT delivery site at the time when the live hog transportation vehicles arrive at the cleaning and sterilization place.

If the live hog transportation vehicles that arrive at the cleaning and sterilization place or the carrier does not match with the information provided by the buyer for issuing the animal quarantine certificate, it shall be deemed that the buyer has not arrived at the designated FOT delivery site.

If the buyer, after arrival at the designated FOT delivery site, cannot start to pick up the goods within two (2) calendar days after the Specified Arrival Date due to malfunction of the live hog transportation vehicles, it shall be deemed that the buyer is unable to pick up the goods.

The buyer may negotiate with the designated FOT delivery site to change the live hog transportation vehicles and reapply for the quarantine.

The live hog transportation vehicles and relevant pick-up personnel shall be cleaned and sterilized at the buyer's expense as required by the designated FOT delivery site.

The designated quality inspection agency shall arrive on site at the time required by the Exchange to carry out the inspection of live hogs. If the designated quality inspection agency is unable to be present on time, it shall notify the Exchange in a timely manner. The Exchange may, as the case may be, engage the designated quality inspection agency to carry out the inspection by remote video or other means recognized by the Exchange.

Where the buyer fails to arrive at the designated FOT delivery site on the Specified Arrival Date, the following provisions shall apply:

if the buyer arrives at the designated FOT delivery site within two (2) calendar days after the Specified Arrival Date, the designated FOT delivery site shall arrange the consignment of the goods. The consigned live hogs shall still comply with the requirement of the delivery quality standards. Where the individual weight and average weight are higher than the upper limit required for standard products, the seller needs not to pay corresponding discounts; where the individual weight and average weight are lower than the lower limit required for standard products, the seller still needs to pay the corresponding discounts; or

if the buyer fails to arrives at the designated FOT delivery site within two (2) calendar days after the Specified Arrival Date, it shall be deemed that the buyer is unable to pick up the goods.

The excess and shortage of the live hogs shall not exceed ± one (1) MT per delivery unit. For the insufficient or surplus amounts, the seller and the buyer shall settle the corresponding payment by themselves.

Payment = (Price of the live hogs + premium/discount of the designated FOT delivery site + average weight premium/discount) × Excess or shortage weight

The weight of live hogs shall be subject to the measurement by weighbridge at the designated FOT delivery site or other weight inspection equipment recognized by the Exchange. If the weighing is conducted with the vehicle driving over the weighbridge, the vehicle chosen by the buyer shall be used for weighing.

The appearance and individual weight of live hogs shall be inspected during the loading process. During the loading process, the buyer can apply for inspection if the appearance or individual weight of a live hog is considered not meeting the requirements of the standard product through visual inspection. If the buyer's claim is accepted by the seller, it shall be handled according to the buyer's claim; if not, the quality inspection agency designated by the Exchange shall be responsible for inspection and the inspection result shall be regarded as the basis of settlement. The seller may also have the designated FOT delivery site handle the above matters on its behalf. Live hogs meeting the requirements for the standard deliverable products and substitutes shall be loaded normally. The designated FOT delivery site shall actively cooperate in the inspection. If the inspection cannot be carried out due to the designated FOT delivery site, it shall be handled according to the buyer's claim.

Within one inspection batch, if the buyer applies for the appearance inspection and the standard product requirements are met for two (2) cumulative times through inspection, the buyer shall not apply for the inspection on the appearance of other live hogs in such inspection batch, and the appearance of these live hogs shall be deemed to be in accordance with the standard products. If the buyer applies for the inspection of the individual weight, and the requirements of the standard products are met for two (2) cumulative times through inspection, then the buyer shall not apply for the inspection of the individual weight of other live hogs in such inspection batch, the individual weight of these live hogs is deemed as consistent with the standard products.

The designated quality inspection agency shall record the weight and number of live hogs properly and calculate the average weight of live hogs in the same inspection batch.

The live hogs delivered shall have been quarantined. If the live hogs pass the quarantine, the designated FOT delivery site shall hand over the animal quarantine certificate before the live hogs are loaded out. If they fail to pass the quarantine and the animal quarantine certificate cannot be issued, it shall be deemed as the seller's delivery default, and the unqualified live hogs shall be disposed of in accordance with relevant provisions of the state.

Once the live hogs conforming to the quality standard for futures delivery are loaded into the live hog transportation vehicles of the buyer and the designated FOT site delivers the animal quarantine certificate to the buyer, the delivery of live hog futures is deemed completed, and thus the handover of goods is completed and the ownership of goods is transferred. The risk of injury or loss of live hogs shall be borne by the seller before delivery of the futures live hog and by the buyer after the delivery.

If the buyer arrives at the designated FOT delivery site on the Specified Arrival Date, the designated FOT delivery site shall, within 48 hours after the buyer arrives at the designated FOT delivery site, complete the delivery of the futures live hog.

Where a live hog dies after being loaded into the transportation vehicle, the dead live hog shall not leave the designated FOT delivery site and shall be disposed of according to the relevant provisions of the state.

The buyer shall actively cooperate with the designated FOT delivery site in arranging the loading-out of the live hogs. If the designated FOT delivery site cannot deliver the live hogs normally due to the buyer's malicious delay or obstruction as determined by the Exchange, the buyer shall be deemed failed to complete the pick-up for the live hogs that have not been loaded out of the designated FOT delivery site.

The buyer shall confirm whether or not the delivery of the futures live hog is normally completed through the Member before the market close on the sixth (6) trading day following the handover day. If the buyer fails to confirm such on time, it shall be deemed that the delivery of the futures live hog has been completed normally.

If the buyer fails to pick up the goods, the Exchange shall, after the market close on the sixth (6) trading day following the handover day, refund the delivery margin to the seller Member and make eighty percent (80%) of the payments for goods to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the VAT common invoice. The seller Member shall provide the VAT common invoice to the buyer Member within seven (7) trading days after the Exchange pays eighty percent (80%) of the payments. The designated FOT delivery site shall dispose of the live hogs that shall be picked up but are not picked up and make the corresponding payment to the buyer within fifteen (15) calendar days following the handover day. Payment = (Price of the live hogs × 80% + premium/discount of the designated FOT delivery site) × Weight of live hogs that shall be picked up but are not picked up.

If the buyer fails to fully make the payments within the stipulated time, it shall be deemed as the buyer's delivery default. The Exchange shall notify the seller Member after settlement on the handover day, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value of the defaulted portion calculated at the delivery settlement price on the matching day, which shall be paid to the seller; and the delivery shall be terminated. Contract quantity of the buyer's delivery default shall be calculated as per the following formula:

Contract quantity of the buyer's delivery default (Lot) = [the payments which should have been paid (CNY) - the payments which have been paid (CNY)] ÷ [the delivery settlement price (CNY/MT) × (1-20%) + premiums/discounts of designated FOT delivery sites] ÷ the trading unit (MT/Lot).

If the designated FOT delivery site fails to complete delivery of live hog futures within the stipulated time limit at the stipulated place, it shall be deemed as the seller's delivery default. The Exchange shall notify the buyer Member before the market close on the sixth (6) trading day following the handover day, and a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value of the default portions calculated at the delivery settlement price on the matching day, which shall be paid to the buyer; and the buyer's payments shall be released, and the delivery shall terminate.

Contract quantity for the portion that fails to be delivered by the seller (Lot) = [weight of the goods which should have been delivered (MT) – weight delivered (MT)] ÷ trading unit (MT/Lot).

The default quantity shall be calculated in "Lot" and rounded up to the nearest integer.

If the buyer believes that force majeure has caused it to be unable to arrive at the designated FOT delivery site on the Specified Arrival Date, or the seller believes that the force majeure has caused the designated FOT delivery site to be unable to deliver the live hogs futures, the buyer or the seller shall report to the Exchange in a timely manner and the handover of goods shall be stopped.

If an event constitutes force majeure as determined by the Exchange, the delivery will terminate, the Exchange shall return payment to the buyer Member and refund the delivery margin to the seller Member. Where it does not constitute force majeure, it shall be deemed that the buyer is unable to pick up the goods or the seller's delivery default.

For the purpose of this Article, force majeure includes any objective condition that is unforeseeable, unavoidable and insurmountable, such as bad weather, flood, earthquake, mud-rock flow and other natural disasters, and change in regulations or policies, etc.

The buyer and the seller may negotiate to handle the payments and handover of the goods for the FOT delivery by themselves, the specific processes of which shall be subject to the Detailed Rules and the applicable provisions of the Measures for Delivery Management of Dalian Commodity Exchange. If the buyer and the seller have agreed to handle the handover of the goods by themselves, but process the payments for the goods through the Exchange, the buyer Member shall supplement the full payments for goods before the market close on the handover day, and the Exchange shall transfer all the payments for goods and refund the delivery margins to the seller Member after the market close on the sixth (6) trading day following the handover day.

Regarding the live hog price and premiums/discounts of the designated FOT delivery site under the Article 61 and Article 70 of this Chapter, the delivery settlement price and the corresponding premiums/discounts on the matching day shall apply.

Section IV Handling of Epidemics

The reporting, identification and release of epidemic information on live hogs and the handling of relevant live hogs shall be carried out according to the relevant provisions of the state.

As of the calendar day immediately following the date of releasing the live hogs epidemic and identification information of the epidemic area, any factory warehouse in the epidemic area shall stop issuing any standard warehouse receipt, and any FOT delivery site in the epidemic area shall stop processing the FOT delivery.

After public release of the epidemic information, the standard warehouse receipts in the epidemic areas shall be disposed of as follows:

the standard warehouse receipts in the epidemic areas shall not be used for delivery matching, transaction, transfer, goods pick-up or margins, etc.;

the standard warehouse receipts in the epidemic areas, which have completed the delivery matching but have not been transferred, shall not be transferred, the transaction shall be terminated, and the Exchange shall refund the payment for goods to the buyer Member after the market close of the handover day; and

in case the standard warehouse receipts in the epidemic area have been deregistered but the delivery of corresponding live hogs futures has not been completed, the factory warehouses in the epidemic areas shall stop the consignment, and shall no longer assume the consignment responsibility. With respect to the live hogs futures not yet delivered, the factory warehouses shall refund the corresponding payment to the owner within ten (10) working days after the date when the identification information of the epidemic areas is released. Payment = (Price of the live hogs + premium/discount between the non-benchmark delivery warehouse and the benchmark delivery warehouse) × Weights of futures live hogs not yet delivered. The Price of the live hogs, the premium/discount between the non-benchmark delivery warehouse and the benchmark delivery warehouse shall be the settlement price and the corresponding premium/discount of the current-month contract when the identification information of the epidemic areas is released. If the current-month contract has been delisted on the date when the identification information of the epidemic areas is released, the delivery settlement price for one-off delivery of the current-month contract and the corresponding premium/discount shall be applied; if the current month is not a contract month, the delivery settlement price for one-off delivery of the preceding contract month and the corresponding premium/discount shall be applied. Where the owner of the goods fails to arrive at the factory warehouses on the Specified Arrival Date prior to occurrence of the epidemic, the factory warehouses shall not refund the corresponding payment for the goods of that day.

After public release of the epidemic information, the FOT delivery in the epidemic areas shall be disposed of as follows:

in case the identification information of the epidemic areas is released prior to the market close on the matching day, the FOT delivery application in the epidemic areas shall be invalid, and shall not participate in the delivery matching;

in case the identification information of the epidemic areas is released after the market close on the matching day but prior to the market close on the handover day, the Exchange shall deregister the FOT delivery applications in the epidemic areas which participate in the delivery matching after the market close on the handover day, terminate the corresponding delivery, refund the delivery margin to the seller Member and the payments for goods to the buyer Member; and

in case the identification information of the epidemic area is released after the market close on the handover day, and the live hogs futures delivery has not been completed, then from the time when the identification information of the epidemic areas is released, the FOT delivery in the epidemic areas shall be terminated, and the Exchange shall, after the market close on the sixth (6) trading day following the handover day, refund the delivery margin to the seller Member and the corresponding payments for goods to the buyer Member; if the live hogs futures delivery is completed, the Exchange shall, after the market close on the sixth (6) trading day following the handover day, refund the delivery margins to the seller Member, and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the VAT common invoice.

In case the delivery default occurs prior to the release of the epidemic situation, it shall still be deemed as a delivery default.

In case the epidemic has been eliminated, upon the announcement by the Exchange, the factory warehouses and FOT delivery sites which have suspended their businesses shall continue to process the delivery business.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange in accordance with the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on the date of promulgation.

Annex 1: Live Hog Delivery Quality Standard of Dalian Commodity Exchange (F/DCE LH001-2021) (Omitted)

Annex 2: List of Designated Delivery Warehouses and Designated FOT Delivery Sites for Live Hogs of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

22. Detailed Rules of Log Futures Business of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Log Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Log Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of log futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated FOT delivery sites, the designated quality inspection agencies, the designated futures margin depository banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The quality standards and quality premiums or discounts for the standard deliverable products and the substitutes under the log futures contract are detailed in the Log Delivery Quality Standard of Dalian Commodity Exchange (F/DCE LG001-2024) as Annex 1 attached hereto.

The log futures contract shall take the form of physical delivery.

The delivery warehouses designated for log shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses.

The designated delivery warehouses and FOT delivery sites for log and the relevant premiums or discounts shall be determined by the Exchange (detailed in the List of Delivery Warehouses and FOT Delivery Sites Designated for Log of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the log futures contract are January, March, May, July, September and November.

The trading unit of the log futures contract is 90 Cubic Meters/Lot.

The price quote unit of the log futures contract is CNY/Cubic Meter.

The minimum tick size of the log futures contract is 0.5 CNY/Cubic Meter.

The maximum quantity of orders placed each time for the log futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the log futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the log futures contract is the last but three trading day of the contract month.

The last delivery day of the log futures contract is the third trading day after the last trading day.

The ticker symbol of the log futures contract is LG.

Chapter III Delivery and Clearing

Section I General Provisions

The log futures contract applies the exchange of futures for physicals (the "EFP") delivery, rolling delivery and one-off delivery.

The rolling delivery may be carried out through the standard warehouse receipt delivery and FOT delivery.

The one-off delivery shall only be carried out by the standard warehouse receipt delivery.

With respect to the EFP delivery, rolling delivery and one-off delivery of the log, the specific processes shall be subject to the applicable provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange in addition to the applicable provisions of the Detailed Rules.

For those participating in rolling delivery, if the FOT delivery is adopted, the seller's application for delivery shall be confirmed by the designated FOT delivery site.

The delivery settlement price of one-off delivery shall be the weighted average price of all trade prices of the futures contract in the last ten (10) trading days of the delivery month; in case the delivery month has less than ten (10) trading days, the delivery settlement price shall be the weighted average price of all trade prices of the futures contract during the period as of the first trading day of the delivery month through the last trading day thereof.

The log used for futures delivery shall conform to the provisions of the state on timber harvesting, transportation, trade, import and so on.

The log futures contract delivery unit shall be ninety (90) cubic meters.

The log standard warehouse receipt shall be the standard factory warehouse receipt.

The Exchange shall engage the designated quality inspection agency to carry out the log inspection under the standard warehouse receipt delivery or FOT delivery. The designated quality inspection agency shall arrive on site at the time required by the Exchange to carry out the inspection. If the designated quality inspection agency is unable to be present on time, it shall notify the Exchange in a timely manner. The Exchange may, as the case may be, engage the designated quality inspection agency to carry out the inspection by remote video or other means recognized by the Exchange.

The quality inspection of logs shall first be carried out in batches of 90 ± 3 cubic meters, and the inspection of remaining logs that do not reach such standard shall be carried out in one batch.

The seller of the factory warehouse or FOT delivery shall issue a quality description for each batch of inspected logs. The quality description shall specify the species, shape, length and appearance defects of that batch of logs.

If the log species listed in the quality description are radiata pine, spruce, fir, hemlock, Chinese cedar, Chinese fir, Mongolian Scots pine, Douglas fir or Masson's pine, the logs in the same inspection batch shall be of the same species; if the log species listed are loblolly pine and other coniferous logs, the logs in the same inspection batch may be of different coniferous tree species.

The logs in the same inspection batch shall be within the same length range. The range of log length for delivery includes:

3.85m ≤ log length < 5.8m;

5.8m ≤ log length < 11.7m;

log length ≥ 11.7m.

In the same inspection batch of logs, the length class is determined according to the log length range, and the length class corresponding to the log length range is specified as follows:

If 3.85m ≤ log length < 5.8m, the length class is recorded as 3.9m;

If 5.8m ≤ log length < 11.7m, the length class is recorded as 5.9m;

If log length ≥ 11.7m, the length class is recorded as 11.8m.

The diameter class of a single log shall be determined by the designated quality inspection agency.

The average diameter class of a batch of inspection of logs shall be determined by the designated quality inspection agency according to the calculation method specified in the Log Delivery Quality Standard of Dalian Commodity Exchange (F/DCE LG001-2024).

The volume of a single log shall be determined by the designated quality inspection agency in accordance with the log volume calculation formula specified in Articles 3.2 and 3.3 of GB/T 4814-2013 Log Volume Table. The length class of a single log used for volume calculation shall be the length class corresponding to the length range specified in the quality description of the inspection batch of logs. If the length of the log is applied for inspection during delivery, the log volume shall be determined in accordance with the relevant provisions of Articles 43 and 65 of the Detailed Rules.

The total volume of logs in an inspection batch shall be the sum of the volumes of the single logs in the batch that meet the delivery quality standards.

During the holidays stipulated by the State Council (including adjusted working days and consecutive holidays), the designated delivery warehouses and designated FOT delivery sites shall suspend the handover of goods, and the corresponding handover date of goods shall be postponed accordingly. Relevant business on other weekends shall stay normal.

In case of the standard warehouse receipt delivery, the quality premiums/discounts price difference of the log futures contract shall be settled by the owner with the factory warehouse; in case of the FOT delivery, the quality premiums/discounts price difference of the log futures contract shall be settled by the buyer and the seller, or the seller may engage a designated FOT delivery site to carry out the settlement on its behalf.

At the time of delivery, the quality description issued by the seller of the factory warehouse or FOT delivery may be used as the basis for the settlement of quality premiums/discounts; In case of quality disputes, they shall be handled in accordance with the relevant provisions of the Detailed Rules.

The dedicated VAT invoice shall be issued for delivery of log.

The delivery commissions, inspection fees, storage fees and other fees of log shall be separately stipulated and announced by the Exchange.

In the course of log futures trading, when the import is being or will be significantly affected by war, social unrest, natural disasters, changes in import and export policies and other factors, Chief Executive Officer of the Exchange may take emergency measures such as adjusting opening and closing time of the market, suspending trading or terminating trading. Upon settlement on the relevant day when the trading is terminated, the Exchange may liquidate positions of all or part of the contract months based on the settlement price of the immediately preceding trading day.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The log standard warehouse receipts which are used for the delivery matching shall be deregistered immediately after the market close on the handover day and after the Exchange has transferred the standard warehouse receipts delivered by the seller to the corresponding matched buyer within that day.

The standard warehouse receipts which are not used for the delivery matching shall be deregistered before the last delivery day (inclusive of such day) in March, July and November of each year.

When the logs are loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day).

At the time of consignment, the factory warehouse shall indicate to the owner the logs to be handed over and provide the quality description of corresponding logs.

The excess and shortage of logs shall not exceed ±3 cubic meters per delivery unit. For the insufficient or surplus part, the factory warehouse and the owner shall settle the corresponding payment by themselves.

Excess or shortage payment = (log price + premiums/discounts between the non-benchmark delivery warehouse and benchmark delivery warehouse + premiums/discounts of log species + premiums/discounts of log length + premiums/discounts of diameter class) × excess or shortage volume.

The log species premiums/discounts and log length premiums/discounts specified in the formula in the preceding paragraph shall be subject to the premiums/discounts corresponding to the log species and log length indicated in the factory warehouse's quality description for the batch of inspection of logs. The diameter class premiums/discounts shall be subject to the diameter class premiums/discounts of the batch of inspection of logs.

In a batch of inspection of logs, if the owner of the goods considers that the species of a log does not conform to the quality description of the factory warehouse by visual inspection, the owner shall apply for inspection before the batch of logs begins to be loaded on the owner's transportation vehicle. If the application for inspection is not submitted within the prescribed period, it shall be deemed that the owner has no objection to the species of the logs loaded out of the factory warehouse. If the owner's claim is accepted by the factory warehouse, it shall be handled according to the owner's claim; if not, the designated quality inspection agency engaged by the Exchange shall be responsible for inspection.

Within a batch of inspection of logs, the owner can select at most three (3) logs to be submitted for log species inspection, and the inspection fee shall be prepaid by the owner.

The designated quality inspection agency shall conduct an onsite inspection on whether the log submitted for inspection is coniferous log or broad-leaved log. If it is inspected as broad-leaved log, it is determined that the log does not meet the delivery quality standards. If it is inspected as coniferous log, the designated quality inspection agency shall take sample from such log, and the sample inspection result shall be taken as the basis for determining whether the coniferous log species conform to the quality description.

In a batch of inspection of logs, if the owner submits log species inspection for three (3) logs, it shall be handled according to the following provisions:

If three (3) logs inspected onsite are all broad-leaved logs, the delivery of the batch of logs shall be terminated. The factory warehouse shall pay compensation to the owner, with the compensation amount = one-off delivery settlement price of the last delivery month of such commodity × 90 cubic meters × 120%, and shall bear the log species inspection fee arising therefrom.

If at least one (1) of the three (3) logs inspected onsite is a coniferous log, the inspection of other items of the batch of logs and the calculation of the volume and average diameter class shall be carried out normally. The factory warehouse shall store the batch of logs at the corresponding site in its warehouse area (hereinafter referred to as the ''Designated Site of the Factory Warehouse''), and shall be responsible for the storage, and the storage fee shall be separately stipulated and announced by the Exchange.

According to the inspection results of log species samples, if none of the log species for such three (3) logs meet the quality description, the delivery of the batch of logs shall be terminated. The factory warehouse shall pay compensation to the owner, with the compensation amount = one-off delivery settlement price of the last delivery month of such commodity × 90 cubic meters × 120%, and shall bear the log species inspection fee and shall not charge the storage fee arising therefrom.

According to the inspection results of log species samples, if all or part of the three (3) log species meet the quality description, the batch of logs shall continue to be loaded out. The owner shall pick up the goods at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) after the Exchange releases the log species inspection results (exclusive of the release day), the factory warehouse and the owner shall settle the log species premiums/discounts according to the quality description, and the storage fee or other fees arising therefrom shall be borne by the owner. For the logs whose inspection results do not conform to the quality description, the factory warehouse shall pay compensation to the owner, with the compensation amount = 200 CNY/log × the number of logs that do not conform to the quality description upon inspection, and shall bear the corresponding log species inspection fee. For the logs whose inspection results conform to the quality description, the log species inspection fee shall be borne by the owner.

Within a batch of inspection of logs, if the owner submits one (1) or two (2) logs for log species inspection, the batch of logs shall be loaded out of the factory warehouse, and the log species premiums/discounts shall be settled according to the quality description. If all or part of the inspection results do not conform to the quality description, the factory warehouse shall pay compensation to the owner, with the compensation amount = 200 CNY/log × the number of logs that do not conform to the quality description upon inspection, and shall bear the corresponding log species inspection fee. For the logs whose inspection results conform to the quality description, the log species inspection fee shall be borne by the owner.

Within a batch of inspection of logs, if the owner considers that the shape, length or appearance defects of a log (including knots, sapwood rot, heartwood rot, crack and ring shake) do not conform to the quality description of the factory warehouse, the owner shall file an application for inspection before such log is loaded onto the owner's transportation vehicle or stored at the Designated Site of the Factory Warehouse in accordance with the provisions of Article 41, paragraph 2 of the Detailed Rules. If the application for inspection is not filed within the prescribed period, it shall be deemed that the owner has no objection to the shape, length or appearance defects of the logs loaded out. If the owner's claim is accepted by the factory warehouse, it shall be handled according to the owner's claim; if not, the designated quality inspection agency engaged by the Exchange shall be responsible for the onsite inspection.

The owner may apply for the inspection of a single log at a time for one of the following aspects: shape, length, knots, sapwood rot, heartwood rot, crack and ring shake. In a batch of inspection of logs, if the inspection results conform to the quality description of the factory warehouse for cumulatively three (3) times, the owner may no longer apply for inspection of the shape, length, knots, sapwood rot, heartwood rot, crack or ring shake of the batch of logs. If the inspection results conform to the quality description, the inspection fee arising therefrom shall be borne by the owner; if not, the inspection fee arising therefrom shall be borne by the factory warehouse.

Upon inspection, if the shape of a single log does not meet the delivery quality standard, such log shall not be calculated into the total log volume of the batch of logs. If the log length of a single log does not meet the delivery quality standard, such log shall not be calculated into the total log volume of the batch of logs; if it meets the delivery quality standard but does not meet the quality description of the factory warehouse, the log volume of such log shall be determined according to the onsite inspection result of the designated quality inspection agency, which shall be calculated into the total log volume of the batch of logs, and log length premiums/discounts of such log shall be settled. If the appearance defect of a single log does not conform to the delivery quality standard, the appearance defect premiums/discounts shall be settled according to the onsite inspection result of the designated quality inspection agency.

The discounts of a single log shall not exceed the price of such log. The price of a single log = (log price + premiums/discounts between non-benchmark delivery warehouse and benchmark delivery warehouse + log species premiums/discounts + log length premiums/discounts + diameter class premiums/discounts) × log volume of a single log.

The log species premiums/discounts and log length premiums/discounts specified in the formula in the preceding paragraph shall be subject to the premiums/discounts corresponding to the log species and log length indicated in the factory warehouse's quality description for the batch of inspection of logs. The diameter class premiums/discounts shall be subject to the diameter class premiums/discounts of the batch of inspection of logs.

If the owner also requests an inspection of log species for three (3) logs of such batch and none of the inspection results meets the quality description, the delivery of the batch of logs shall be terminated. The factory warehouse and the owner shall no longer settle any premiums/discounts for the shape, log length and appearance defects in accordance with the provisions of this Article. The inspection fees of the shape, log length and appearance defects shall be borne by the factory warehouse.

According to the measurement and calculation results of the designated quality inspection agency, if the diameter class of a single log does not meet the delivery quality standard, it shall not be calculated into the total log volume of the batch of logs; if it meets the delivery quality standard but does not meet the minimum requirement of the diameter class for a single log corresponding to the average diameter class of the batch of logs, it shall be calculated into the total log volume of the batch of logs, but the factory warehouse shall pay the owner the log price calculated in accordance with the paragraph 4 under Article 43 of the Detailed Rules, and shall not settle any premiums/discounts for the log length and appearance defect of such log.

If the owner also requests an inspection of log species for three (3) logs of such batch of logs and none of the inspection results meets the quality description, the delivery of the batch of logs shall be terminated. The factory warehouse shall no longer pay the price of the logs in accordance with the provisions of the preceding paragraph.

Once the logs are loaded onto the owner's transportation vehicle, it shall be deemed that the delivery is completed, and thus the handover of goods is completed and the ownership of goods is transferred. The risk of damage or loss of logs shall be borne by the factory warehouse before delivery and by the owner after the delivery.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or any other reason attributable to the owner, the owner shall pay to the factory warehouse the late fee. The late fee is determined as follows:

from the starting date of goods pick-up (inclusive of the pick-up day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of goods pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee = 1 CNY/Cubic Meter*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the then-current day) and within nineteen (19) calendar days (inclusive of the then-current day) following the deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse, and the factory warehouse shall assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, unless all the futures commodities have been consigned.

The late fee shall be determined according to the following method:

from the date of expiration of pick-up period (inclusive of the expiration day), for each day, the amount of late fee on the then-current day shall be figured out by multiplying the quantity of the goods which shall be picked up but fail to be picked up on the then-current day by the corresponding amount of late fee; and

to the completion date of pick-up (exclusive of the pick-up day), the total amount of late fee which the owner shall pay to the factory warehouse shall be figured out on the basis of totaling the daily amount of late fee.

Amount of late fee =1 CNY /Cubic Meter*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the then-current day) following the date of deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay the late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = 1 CNY/Cubic Meter*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but timely completes the consignment of all the commodities, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the required daily consignment speed × 5%.

Where the factory warehouse fails to timely complete the consignment of all the commodities, the factory warehouse shall, in addition to the compensation provided in Article 49 of the Detailed Rules, compensate the owner the amount of compensation, the amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities × 5%; The following procedures shall apply to such failure:

the Exchange shall supply to the owner the physical commodities of the same quality and quantity of other factory warehouses or locations and bear all the costs and expenses arising out of or in connection with the adjustment of the delivery site and the delayed consignment; and

where the Exchange fails to supply the above commodities, the Exchange shall refund to the owner the payment of the commodities and compensate the owner.

Amount of refunded payment of commodities and compensation = (One-off delivery settlement price of the last delivery month of such commodity × 120% + premiums/discounts between non-benchmark delivery warehouse and benchmark delivery warehouse) × Quantity of the commodities which shall be, but fail to be, consigned according to the total quantity of the commodities.

In the event of any violation by the factory warehouse described in Article 49 or 50 of the Detailed Rules, the compensation shall firstly be paid to the owner by the factory warehouse. Where the factory warehouse fails to pay such compensation or the amount of compensation is insufficient, such violation shall be handled by the Exchange subject to the applicable provisions of the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

In accordance with the provisions of Article 41 of the Detailed Rules, if the logs can continue to be loaded out of the factory warehouse upon the inspection of log species, the fourth calendar day after the Exchange releases the inspection results of log species (exclusive of the then-current day) shall be the date of expiration of pick-up period. If the owner or the factory warehouse fails to pick up the goods or consign the goods in accordance with the provisions, the provisions of Articles 46 to 51 of the Detailed Rules shall apply by reference. Among others, the date of releasing the log species inspection results shall correspond to the relevant provisions of the date of deregistration of the standard warehouse receipt.

The log price and the premiums/discounts between the non-benchmark delivery warehouse and the benchmark delivery warehouse specified in Articles 39 and 43 of this Chapter shall be the settlement price of the contract of the month on the deregistration date of the standard warehouse receipt and the corresponding premium/discounts. If the current-month contract on the deregistration date of the standard warehouse receipt has been delisted, the delivery settlement price for one-off delivery of the current-month contract and the corresponding premiums/discounts shall be applied; if the current month is not a contract month, the delivery settlement price for one-off delivery of the preceding contract month and the corresponding premiums/discounts shall be applied.

Section III FOT Delivery

The applicant for the designated FOT delivery site shall meet the following conditions:

enterprise legal person with a business license issued by the market supervision and administration department;

the net assets reaching the amount stipulated by the Exchange;

having good financial condition and strong risk resistance ability;

having good commercial reputation, having no record of serious violation of laws or record of disqualification for designated FOT delivery site or designated delivery warehouse in recent three years;

undertaking to comply with the rules of the Exchange;

having a goods delivery site with certain scale and good transportation conditions; and

other conditions stipulated by the Exchange.

After meeting the above conditions and after becoming a designated FOT delivery site upon recognition by the Exchange, the designated FOT delivery site shall sign corresponding agreements with the Exchange to make the rights and obligations of both parties, so as to regulate relevant business behaviors.

The Exchange shall supervise, inspect and manage the designated FOT delivery site according to the Detailed Rules hereof, relevant rules and agreements.

If the designated FOT delivery site voluntarily waives its qualification as the designated FOT delivery site, it shall submit an application to the Exchange and obtain the approval of the Exchange.

In case of any rule violations, contract breaches or other circumstances identified by the Exchange in the FOT delivery business of the designated FOT delivery site, the Exchange may, depending on the circumstances, take measures such as suspending the delivery business of the designated FOT delivery site or canceling the qualification of the designated FOT delivery site.

The maximum deliverable amount every day on each designated FOT delivery site shall be stipulated by the Exchange (see Annex 2 List of Delivery Warehouses and FOT Delivery Sites Designated for Log of Dalian Commodity Exchange for details).

Except for the handling upon negotiation between the buyer and the seller, both the buyer and the seller shall deliver the logs on the second calendar day after the handover date (i.e. the FOT delivery date).

Before 8:00 on the FOT delivery date, the seller shall transport the logs to the designated FOT delivery site, and the buyer shall be present on time. If the seller fails to transport the logs to the designated FOT delivery site on time, Article 69 herein shall apply. If the buyer fails to be present on time, it shall be deemed that the buyer has no objection to the quality of the delivered goods. The log diameter class, volume and average diameter class shall be subject to the onsite measurement and calculation of the designated quality inspection agency.

At the time of the FOT delivery, the seller shall indicate to the buyer the logs to be handed over and provide the quality description of corresponding logs.

The seller shall load the logs onto the buyer's transportation vehicle at the designated FOT delivery site. If the buyer does not arrange the transportation vehicle to arrive onsite, the seller may unload the logs to a location within the delivery place designated by the designated FOT delivery site (hereinafter referred to as the ''Designated Place of the Designated FOT Delivery Site''). The seller shall bear the loading and unloading fees incurred therefrom, and the buyer shall bear all expenses incurred consequently (including loading and unloading fees, storage fees, etc.).

The excess and shortage of logs shall not exceed ±3 cubic meters per delivery unit. For the insufficient or surplus part, the seller and the buyer shall settle the corresponding payment by themselves.

Excess or shortage payment = (log price + premiums/discounts of designated FOT delivery site + premiums/discounts of log species + premiums/discounts of log length + premiums/discounts of diameter class) × excess or shortage volume

The log species premiums/discounts and log length premiums/discounts specified in the formula in the preceding paragraph shall be subject to the premiums/discounts corresponding to the log species and log length of the batch of inspection of logs specified in the seller's quality description, and the diameter class premiums/discounts shall be subject to the diameter class premiums/discounts of the batch of inspection of logs.

In a batch of inspection of logs, if the buyer considers that the species of a log does not conform to the seller's quality description by visual inspection, the buyer shall apply for inspection before the batch of logs begins to be loaded onto the buyer's transportation vehicle. If the buyer does not arrange for the transportation vehicle to arrive onsite, the buyer shall apply for inspection before the batch of logs begins to be moved to the Designated Place of the Designated FOT Delivery Site. If the application for inspection is not submitted within the prescribed period, it shall be deemed that the buyer has no objection to the species of the logs. If the buyer's claim is accepted by the seller, it shall be handled according to the buyer's claim; if not, the designated quality inspection agency engaged by the Exchange shall be responsible for inspection.

Within a batch of inspection of logs, the buyer can select at most three (3) logs to be submitted for log species inspection, and the inspection fee shall be prepaid by the buyer.

The designated quality inspection agency shall conduct an onsite inspection on whether the log submitted for inspection is coniferous log or broad-leaved log. If it is inspected as a broad-leaved log, it is determined that the log does not meet the delivery quality standards. If it is inspected as a coniferous log, the designated quality inspection agency shall take sample from such log, and the sample inspection results shall be taken as the basis for determining whether the coniferous log species conform to the quality description.

In a batch of inspections of logs, if the buyer submits log species inspection for three (3) logs, it shall be handled according to the following provisions:

If three (3) logs inspected onsite are all broad-leaved logs, the delivery of the batch of logs shall be terminated, and it shall be handled according to the Article 69 of the Detailed Rules. The log species inspection fees arising therefrom shall be borne by the seller.

If at least one (1) of the three (3) logs inspected onsite is a coniferous log, the inspection of other items of the batch of logs and the calculation of the volume and average diameter class shall be carried out normally. The seller shall store the batch of logs at the Designated Place of the Designated FOT Delivery Site, and such batch of logs shall be stored by the FOT delivery site. The storage fee shall be separately stipulated and announced by the Exchange.

According to the inspection results of log species samples, if none of the log species for such three (3) logs meet the quality description, the delivery of the batch of logs shall be terminated, and it shall be handled according to paragraph 2 of the Article 68 of the Detailed Rules. The log species inspection fee and storage fee arising therefrom shall be borne by the seller.

According to the inspection results of log species samples, if all or part of the three (3) log species meet the quality description, the batch of logs shall continue to be loaded out. The buyer and the seller shall arrive at the designated FOT delivery site prior to 8:00 on the day after the inspection results are released by the Exchange to handle the handover of goods and settle the log species premiums/discounts according to the quality description, the storage fee or other fees arising therefrom shall be borne by the buyer. If the seller fails to be present on time, the designated FOT delivery site may arrange for consignment on its behalf. If the buyer does not arrange for the transportation vehicle to arrive onsite, the seller may store the logs at the Designated Place of the Designated FOT Delivery Site, and the storage fee arising therefrom shall be borne by the buyer. For the logs whose inspection results do not conform to the quality description, the seller shall pay compensation to the buyer, with the compensation amount = 200 CNY/log × the number of logs that do not conform to the quality description upon inspection, and shall bear the corresponding log species inspection fee. For the logs whose inspection results conform to the quality description, the log species inspection fee shall be borne by the buyer.

Within a batch of inspections of logs, if the buyer submits one (1) or two (2) logs for log species inspection, the batch of logs shall be loaded out, and the log species premiums/discounts shall be settled according to the quality description. If all or part of the inspection results do not conform to the quality description, the seller shall pay compensation to the buyer, with the compensation amount = 200 CNY/log × the number of logs that do not conform to the quality description upon inspection, and shall bear the corresponding log species inspection fee. For the logs whose inspection results conform to the quality description, the log species inspection fee shall be borne by the buyer.

Within a batch of inspection of logs, if the buyer considers that the shape, length or appearance defects of a log (including knots, sapwood rot, heartwood rot, crack and ring shake) do not conform to the quality description of the seller, the buyer shall file an application for inspection before such log is loaded onto the buyer's transportation vehicle. If the buyer does not arrange the transportation vehicle to arrive onsite or if the circumstances under paragraph 2 of Article 63 of the Detailed Rules occur, the buyer shall file the application for inspection before the log is unloaded at the Designated Place of the Designated FOT Delivery Site. If the application for inspection is not filed within the prescribed period, it shall be deemed that the buyer has no objection to the shape, length or appearance defects of the logs loaded out. If the buyer's claim is accepted by the seller, it shall be handled according to the buyer's claim; if not, the designated quality inspection agency engaged by the Exchange shall be responsible for the onsite inspection.

The buyer may apply for the inspection of a single log at a time for one of the following aspects: shape, length, knots, sapwood rot, heartwood rot, crack and ring shake. In a batch of inspection of logs, if the inspection results conform to the seller's quality description for cumulatively three (3) times, the buyer may no longer apply for inspection of the shape, length, knots, sapwood rot, heartwood rot, crack or ring shake of the batch of logs. If the inspection results conform to the quality description, the inspection fee arising therefrom shall be borne by the buyer; if not, the inspection fee arising therefrom shall be borne by the seller.

Upon inspection, if the shape of a single log does not meet the delivery quality standard, such log shall not be calculated into the total log volume of the batch of logs. If the log length of a single log does not meet the delivery quality standard, such log shall not be calculated into the total log volume of the batch logs; if it meets the delivery quality standard but does not meet the seller's quality description, the log volume of such log shall be determined according to the onsite inspection result of the designated quality inspection agency, which shall be calculated into the total log volume of the batch of logs, and log length premiums/discounts of such log shall be settled. If the appearance defect of a single log does not conform to the delivery quality standard, the appearance defect premiums/discounts shall be settled according to the onsite inspection result of the designated quality inspection agency.

The discounts of a single log shall not exceed the price of such log. The price of a single log = (log price + premiums/discounts of the designated FOT delivery site + log species premiums/discounts + log length premiums/discounts + diameter class premiums/discounts) × log volume of a single log.

The log species premiums/discounts and log length premiums/discounts specified in the formula in the preceding paragraph shall be subject to the premiums/discounts corresponding to the log species and log length indicated in the seller's quality description for that batch of inspection of logs. The diameter class premiums/discounts shall be subject to the diameter class premiums/discounts of the batch of inspection of logs.

If the buyer also requests an inspection of log species for three (3) logs of such batch and none of the inspection results meets the quality description, the delivery of the batch of logs shall be terminated. The buyer and the seller shall no longer settle any premiums/discounts for the shape, log length and appearance defects in accordance with the provisions of this Article. The inspection fees of the shape, log length and appearance defects shall be borne by the seller.

According to the measurement and calculation results of the designated quality inspection agency, if the diameter class of a single log does not meet the delivery quality standard, it shall not be calculated into the total log volume of the batch of logs; if it meets the delivery quality standard but does not meet the minimum requirement of the diameter class for a single log corresponding to the average diameter class of the batch of logs, it shall be calculated into the total log volume of the batch of logs, but the seller shall pay the buyer the log price calculated in accordance with the paragraph 4 under Article 65 of the Detailed Rules, and shall not settle any premiums/discounts for the log length and appearance defect of such log.

If the buyer also requests an inspection of log species for three (3) logs of such batch of logs and none of the inspection results meets the quality description, the delivery of the batch of logs shall be terminated. The seller shall no longer pay the price of the logs in accordance with the provisions of the preceding paragraph.

Once the logs are loaded onto the buyer's transportation vehicle, it shall be deemed that the delivery is completed, and thus the handover of goods is completed and the ownership of goods is transferred. If the buyer does not arrange the transportation vehicle to arrive onsite, once the logs are loaded at the Designated Place of the Designated FOT Delivery Site, it shall be deemed that the delivery is completed, and the goods ownership is transferred. The risk of damage or loss of logs shall be borne by the seller before delivery and by the buyer after the delivery.

If the buyer and the seller complete the delivery of all logs on the FOT delivery day, the buyer client shall, prior to 11:30 a.m. on the fourth (4) trading day after the handover day, confirm through the Member; if it fails to do so, the delivery shall be deemed confirmed. The Exchange shall refund the delivery margin of the seller Member after the market close on the fourth (4) trading day after the handover day, make 80% of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the dedicated VAT invoice.

If the buyer client files the inspection application of log species for three (3) logs in a batch of inspection of logs on the FOT delivery day, and whether the log species is complied with the quality description cannot be determined onsite, the Exchange shall release the log species inspection results prior to the market close on the eighth (8) trading day following the handover day. If none of the log species for such three (3) logs are inspected to meet the quality description, the delivery shall be terminated, and the Exchange shall, after the market close on the eighth (8) trading day following the handover day, pay to the buyer Member the delivery margin of twenty percent (20%) of the contract value of the batch of logs of the seller Member, the corresponding goods of the batch shall be returned to the seller, and the payments shall be refunded to the seller Member. If all or part of the three (3) log species are inspected to meet the quality description, the Exchange shall, after the market close on the eighth (8) trading day following the handover day, refund the delivery margin to the seller Member and make eighty percent (80%) of the payments to the seller Member, and the remaining payments shall be fully settled after the seller Member provides the dedicated VAT invoice.

The seller Member shall provide the dedicated VAT invoice corresponding to the actually delivered goods to the buyer Member within seven (7) trading days after the Exchange pays eighty percent (80%) of the payments.

FOT delivery default means that the buyer fails to fully make the payments within the stipulated time, and the seller fails to fully deliver logs conforming to the futures delivery quality standard in the stipulated place.

In case the buyer commits a delivery default, the Exchange shall notify the seller Member after settlement on the handover day, a punitive penalty shall be imposed by the Exchange against the buyer of twenty percent (20%) of the contract value of the default portions calculated at the delivery settlement price on the matching day, which shall be paid to the seller; and the delivery shall terminate. The quantity of the contracts of delivery default by the buyer shall be calculated as per the following formula:

The quantity of the contracts of delivery default by the buyer (Lot) = [the payments which should have been paid (CNY) - the payments which have been paid (CNY)] ÷ [the delivery settlement price (CNY/Cubic Meter) × (1-20%) + the discounts/premiums of designated FOT delivery sites]÷ the trading unit (Cubic Meter/Lot).

In case the seller commits a delivery default, the Exchange shall notify the buyer Member before the market close on the fourth trading day following the handover day, a punitive penalty shall be imposed by the Exchange against the seller of twenty percent (20%) of the contract value of the default portions calculated at the delivery settlement price on the matching day, which shall be paid to the buyer; and the buyer's payments shall be released, and the delivery shall terminate.

Contract quantity for the portions insufficiently delivered by the seller (Lot) = [log volume which should have been delivered (Cubic Meter) – log volume delivered (Cubic Meter)] ÷ trading Unit (Cubic Meter/Lot).

The default quantity shall be calculated in "Lot" and rounded up to the nearest integer.

The buyer and the seller may negotiate to handle the payments and handover of the goods for the FOT delivery by themselves, the specific processes of which shall be subject to the Detailed Rules and the applicable provisions of the Measures for Delivery Management of Dalian Commodity Exchange. If the buyer and the seller have agreed to handle the handover of the goods by themselves, but process the payments for the goods through the Exchange, the buyer Member shall supplement the full payments for goods before the market close on the handover day, and the Exchange shall transfer all the payments for goods and refund the delivery margins to the seller Member after the market close on the forth (4) trading day following the handover day.

The log price and the premiums/discounts of the designated FOT delivery site specified in Articles 61 and 65 of this Chapter shall be the delivery settlement price and the corresponding premiums/discounts on the matching day.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange in accordance with the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on the date of promulgation.

Annex 1: Log Delivery Quality Standard of Dalian Commodity Exchange (F/DCE LG001-2024) (Omitted)

Annex 2: List of Delivery Warehouses and FOT Delivery Sites Designated for Log of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.